Mumbai, December 20, 2023.

Japanese lender SMBC on Wednesday said the Tata Group-owned Air India has borrowed USD 120 million from it for purchasing a wide-body aircraft from Airbus.

The transaction has partly financed Air India’s purchase of an A350-900 aircraft from Airbus, which was delivered in October 2023, according to an official statement.

SMBC said this is a secured debt facility through its Singapore branch, while Air India’s GIFT City-headquartered arm AI Fleet Services is the borrower.