A meeting of the Air India Board here was today informed that bridge financing for the 12 Boeing 787 Dreamliners has been tied up with Deutsche Bank and Investec Bank, airline sources said. The list price of one Boeing 787-8 is about USD 212 million.
Regarding the 'on point agreement' with GE Aviation that produces the GEnX engines, the sources said the 12-year accord, which was approved by the Board today, would not only be for repairs and overhaul of these sensitive engines, but the contract would also take care of exigencies like foreign object damage (FOD).
The GEnX engines would require on an average two shop visits in 12 years, the sources said, adding each shop visit could cost around USD 5-6 million.
This long term agreement would help Air India save about Rs 200-250 crore over 12 years and "in the worst case scenario Rs 102 crore," the officials said.