Air India ties up with PNB & IndusInd Bank

Air India has tied up with Punjab National Bank (PNB) and IndusInd Bank to secure loans to the tune of over Rs 3,000 crore for meeting working capital requirements. Recently, the disinvestment-bound Air India had floated tenders for availing Govt. guarantee backed INR short-term loans totalling up to Rs 3,250 crore in the first phase. Air India is owned by Air India Limited and operates a fleet of Airbus and Boeing aircraft serving 90 domestic and international destinations.