Banks, aircraft lessors issue default notices to Air India, says report
Updated : July 30, 2018 10:17 AM IST
Debt-ridden Air India has started defaulting government guaranteed loans to bans and aircraft lessors, Business Standard reported.
Over the last few weeks, three banks and two aircraft leasing companies have issued default notices to the airline, threatening legal action if the dues are not paid, sources told the paper.
In a letter of demand by Wells Fargo, a trustee of Air India, reviewed by the paper, said that 'an event of default' has occurred as the airline has not paid lease rental payments for over two months on three Boeing 787 Dreamliner aircraft.