Standard Chartered and Bank of India have jointly financed a USD 215 million term loan for AI Fleet Services IFSC Limited (AIFS), a leasing arm of Air India based in Gujarat International Finance Tec-City (GIFT City). The seven-year amortising loan will fund six Boeing 777-300 ER aircraft, which AIFS will lease to Air India as part of its fleet expansion drive.

The transaction marks the first commercial aircraft financing structured with a GIFT City borrower. Both Standard Chartered and Bank of India acted as Mandated Lead Arrangers and Bookrunners (MLAB), with Standard Chartered serving as the Structuring Bank.

Air India, currently serving 55 domestic and 45 international destinations, is in the midst of a five-year transformation under its Vihaan. AI program, which includes an order fo

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