02 Aug '11, 2pm

Air India looking to raise US$830m to purchase Boeing 787 - Channel NewsAsia

Air India looking to raise US$830m to purchase Boeing 787 - Channel NewsAsia

NEW DELHI: Air India is looking to raise some $830 million to purchase Boeing's Dreamliner 787. The beleaguered carrier is hoping the fleet will help shore up revenues and perhaps even reverse its fortune. Air India will receive four Boeing 787s by the end of this year while another 27 Dreamliners will be delivered over the next few years. The carrier hopes the new fleet will attract more passengers on its long haul flights and reverse its falling market share. Subash Goyal, Chairman, ASSOCHAM Committee on Aviation, said: "787 planes will definitely change the image of Air India. Aviation is such a business that you have to be ahead of the race. When 747s came, Air India was the first airline in Asia to have 747s. Now other countries have taken the lead. So we want Air India to come back to its glory." However, Air India is struggling with its finances. It is looking to ra...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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