Air India has successfully obtained a loan of $120 million from Japan's Sumitomo Mitsui Banking Corporation (SMBC) to finance the acquisition of a new Airbus aircraft. The strategic move aligns with the airline's expansion plans and the ongoing efforts to modernize its fleet with advanced and fuel-efficient aircraft.

The loan agreement with SMBC enables Air India to enhance its operational capabilities by adding a new Airbus aircraft to its fleet. This development comes at a crucial time for the airline as it seeks to strengthen its position in the competitive aviation market and improve its overall services.

The financing arrangement highlights the collaboration between Air India and SMBC, reflecting the confidence of international financial institutions in the airline's growth potential. The loan is expected to contribute to the airline's fleet renewal program, emphasising the importance of adopting modern and fuel-efficient aircraft to optimise operational efficiency.

As Air India navigates through the dynamic aviation landscape, strategic financial partnerships play a vital role in supporting the airline's fleet modernisation initiatives. The loan from SMBC not only facilitates the acquisition of a new Airbus plane but also underscores the global financial community's interest in contributing to the growth and sustainability of the aviation sector.