Air India scouts for $535 million loan to buy 3 Boeing planes

Agencies
November 5, 2017

New Delhi, Nov 5: Air India is looking to raise loans worth $535 million to finance acquisition of three Boeing planes, including two aircraft that will be used for ferrying VVIPs, a senior airline official said.

However, the disinvestment-bound carrier has reduced the required loan amount by around $20 million in less than three weeks after floating a tender where it had sought loan up to $555 million for buying the three aircraft.

The delivery of three B777-300 ER planes is scheduled to be completed in February next year, with two expected to be bought in January.

Issuing a revised tender, the airline has solicited interest from lenders for loan worth up to $535 million, for which two separate term sheets would be inked.

At current exchange rates, the loan would be to the tune of around Rs 3,460 crore.

Out of three aircraft, two are to be acquired in January 2018 and those would be for the use of VVIPs, the official said.

After making required modifications, the two planes would join the fleet that are generally used to carry President, Vice President and Prime Minister, the official added.

As per the purchase agreement with Boeing, Air India is to buy 15 B777-300 ER aircraft and it has already taken delivery of 12 such planes.

According to the revised tender document, one term sheet would be for two aircraft that are to be delivered in January next year and the loan amount required is up to $400 million. The figure translates to around $200 million for each plane.

For the remaining aircraft, a separate term sheet would be inked for a loan of up to $135 million.

The specific reasons for revising downwards the proposed loan amount to $535 million from $555 million could not be immediately ascertained.

"The facility should be a direct loan without the requirement for formation of a special purpose vehicle structure which requires title transfer," the tender document said.

Air India has said that the Government of India has indicated that they would issue its guarantee for the bridge financing of B777-300 ER aircraft for a period of 12 months or till the date the loan is refinanced whichever is earlier.

No commitment fee would be paid to the bidder and that the "pre-payment/ short closure of the bridge loan should be allowed without any extra cost" to the airline, it added.

In 2006, Air India placed orders with Boeing for 68 aircraft — 27 Dreamliners, 15 B777-300 ERs, eight B777-200 LRs and 18 B737-800s.

Of these, the state-run carrier has already taken the delivery of 65 planes.

At present, the flagship airline has a fleet of 115 aircraft.
The B777-300 ER aircraft owned by Air India has 342 seats for passengers.

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Agencies
January 5,2020

New Delhi, Jan 5: A masked mob on Sunday entered the Sabarmati Hostel on the Jawaharlal Nehru University (JNU) campus and assaulted several students and professors with sticks and rods.

"I have been brutally attacked by goons wearing masks. I am bleeding. I was brutally beaten up," JNU Students' Union (JNUSU) president Aishe Ghosh told reporters.

She has been admitted to the AIIMS here for treatment.

Several other students were also injured in the incident.

In a video of the incident, a group of goons with their faces covered can be seen assaulting students with wooden sticks and rods.

A tweet from the official handle of the JNUSU said, "Sabarmati Hostel: right now. They are beating the students who are inside. Knocking on doors with rods. People are jumping from balconies. #SOSJNU #EmergencyinJNU."

"Professors who were trying to protect us have been beaten up. These are unknown ABVP goons, not all are students, they have covered their faces, and they are moving towards the hotels near the West Gate. Stay alert. Make human chains. Protect each other. #SOSJNU #EmergencyinJNU," another tweet added.

Meanwhile, the ABVP's JNU unit claimed in a tweet: "Emergency in JNU. Leftist goons of JNU accompained with their cadre from other universities have crossed every limit. They have proceeded with unimaginable violence on ABVP activists of JNU."

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News Network
July 16,2020

Mumbai, Jul 16: Poet-activist Varavara Rao has tested positive for Covid-19. The 80-year old, named as accused in the Elgar Parishad case, was shifted to state-run JJ Hospital from Taloja central jail where he was lodged after he complained of dizziness. The hospital conducted tests including one for Covid-19 the results for which confirmed that he is positive.

Dr Ranjit Mankeshwar, the dean of JJ Hospital said, “He has shown no symptoms of Covid-19 so far. He has no breathing difficulty and is stable. We will soon shift him to a Covid hospital.” Rao is likely to be shifted to St George hospital.

Last week, Rao’s family had held a press conference after receiving a call from him from prison. His family had then said that his condition was deteriorating and he should be provided immediate medical aid. He was earlier shifted to the hospital when he fell unconscious in jail in May but was discharged within three days. The family had said that he was not provided proper medical treatment.

Last month, a special court had rejected his interim bail plea where he had cited his susceptibility to the virus due to his age and other medical conditions. The court, however, had said the superintendent of prison has been directed to take appropriate measures in such cases where medical attention is required. Before he was shifted to the hospital on Tuesday, Rao was admitted to the hospital ward of the jail and as he had been unable to do basic chores without depending on other inmates.

An appeal against the special court’s order is pending before the Bombay High Court. The plea is likely to be heard tomorrow.

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Naresh
 - 
Thursday, 16 Jul 2020

Real criminals got bail or they r free from jail becoz of corona. Varavara rao and other innocents under custody.

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Agencies
June 7,2020

New Delhi, Jun 7: A day after India and China military commanders held "cordial and positive" talks at Chushul-Moldo point along the Line of Actual Control in Eastern Ladakh, Ministry of External Affairs said the two countries have agreed to "peacefully" resolve the situation in the border areas by continuing the military and diplomatic engagements.

The Indian delegation led by 14 Corps Commander Lt Gen Harinder Singh on Saturday met his Chinese equivalent Maj Gen Liu Lin, who is the commander of South Xinjiang Military Region of the Chinese People's Liberation Army, to address the ongoing tussle in Eastern Ladakh.

In a statement on Sunday, the MEA said that the meeting between the Corps Commander based in Leh and the Chinese Commander took place in a "cordial and positive atmosphere".

"Both sides agreed to peacefully resolve the situation in the border areas in accordance with various bilateral agreements and keeping in view the agreement between the leaders that peace and tranquillity in the India-China border regions is essential for the overall development of bilateral relations," the statement read.

They also noted that this year marked the 70th anniversary of the establishment of diplomatic relations between the two countries and agreed that an early resolution would contribute to the further development of the relationship.

"Accordingly, the two sides will continue the military and diplomatic engagements to resolve the situation and to ensure peace and tranquillity in the border areas," it further read.

China has moved its troops along the Line of Actual Control (LAC) in the Eastern Ladakh areas including the Finger area, Pangong Tso Lake, and Galwan Nala area.

The meeting between military commanders was to discuss and resolve the stand-off in Eastern Ladakh.

Following the meeting, the Army Headquarters' Directorate General of Military Operations also briefed the Ministry of External Affairs and other concerned government officials about the discussions.

On Friday, officials of India and China interacted through video-conferencing with the two sides agreeing that they should handle "their differences through peaceful discussion" while respecting each other's sensitivities and concerns and not allowing them to become disputes in accordance with the guidance provided by the leadership.

In the last few days, there has not been any major movement of the PLA troops at the multiple sites where it has stationed itself along the LAC opposite Indian forces.

The Chinese Army's intent to carry out deeper incursions was checked by the Indian security forces by quick deployment.

The Chinese have also brought in heavy vehicles with artillery guns and infantry combat vehicles in their rear positions close to the Indian territory.

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