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Airlines may get nod to tap foreign loans; govt mulls external borrowing

Distressed Indian airlines may get a new line of funding from foreign lenders, as the government is mulling opening up the external commercial borrowing (ECB) route for them to raise working capital. The civil aviation ministry has sought the intervention of the finance ministry to allow airlines to tap foreign funds.

“Airlines, in their correspondence with the government, have requested that since aviation has become a primary mode of transport and an essential part of the infrastructure, they should be given benefits such as access to ECB for