Air India has sought proposals for short term loans worth Rs 1,500 crore to meet its “urgent” working capital needs, according to a document.
This is the second time in over a month that the carrier has floated tenders for short tenure loans even as the government is working on the modalities for the stake sale.
The Maharaja, which is surviving on taxpayers’ money, is battling multiple headwinds, including financial woes and stiff competition.
In a document, Air India has said that it is looking for “government guarantee backed short term loans totalling up to Rs 1,500 crore to meet its urgent working capital requirements”.
The loan would have a tenure up to June 27, 2018 from the date of being availed and the deadline could be extended.