Date:13/02/2007 URL: http://www.thehindu.com/2007/02/13/stories/2007021305681800.htm

Business - Briefly

Indian Airlines signs contract with German bank

NEW DELHI: Carrying forward its aircraft purchase exercise, the State-owned Indian Airlines on Monday signed a contract with German bank KfW IPEX-Bank, commissioning the bank for financing the purchase of the first batch of 10 Airbus A-320 family aircraft to be delivered this year. Indian's Chairman and Managing Director Vishwapati Trivedi and Peter Klaus, Chairman of the Board of Managing Directors of the bank signed the contract in Frankfurt wherein KfW will lend $500 million to the airline with a repayment tenure of 12 years.