Air India Borrows $120M for Airbus

20 Dec 2023 CW Team

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.

Real Estate

14 Jul 2026

Paradigm Realty secures Rs 1 billion for Chembur project

Paradigm Realty Group has secured Rs 1 billion in funding from Arnya RealEstates Fund for its flagship residential project, 71 Midtown, in Chembur, Mumbai.The institutional investment will be used to support the completion of Phases 1 and 2 of the development, with the financing aligned to the project's construction and delivery schedule.Spread across approximately 4.5 acres, the gated residential community comprises one- and two-bedroom apartments. Located near Sindhi Society in Chembur, the project offers connectivity to the Bandra Kurla Complex (BKC) and is expected to benefit from infrastr..

PCPL delivers 1.4 million sq ft, eyes 2.1 million sq ft pipeline

Pranav Constructions (PCPL) has delivered more than 1.4 million sq ft of redeveloped residential space across Mumbai as of March 2026, while outlining a future pipeline exceeding 2.1 million sq ft across key redevelopment markets.Over the past decade, the Mumbai-based developer has completed 28 redevelopment projects, benefiting more than 2,450 families across the city's western suburbs, including Borivali, Kandivali, Malad and Goregaon. Since 2023, the company has expanded into neighbourhoods such as Santacruz, Bandra, Andheri and Vile Parle, while also entering heritage precincts including M..

Shalimar Paints launches premium Xtra Tough Hi-Sheen

Shalimar Paints has expanded its premium product portfolio with the launch of Xtra Tough Hi-Sheen, a new exterior emulsion developed to provide enhanced weather protection and a high-sheen finish for residential buildings.The company said the product is designed to address growing consumer demand for exterior coatings that combine aesthetics with long-term durability. Suitable for both new construction and renovation projects, the emulsion is formulated to withstand varied climatic conditions, including heat, rain, humidity and pollution.Xtra Tough Hi-Sheen features a dust-repellent coating in..