Akasa Air secures US$100.5M ECLGS loan from IndusInd Bank

What's the deal? Akasa Air has secured a US$100.5M working capital loan from IndusInd BankDealroom has a profile for this one. Try Dealroom → under the Government of IndiaDealroom has a profile for this one. Try Dealroom →'s Emergency Credit Line Guarantee Scheme (ECLGS). The airline plans to use the funds for normal business operations.

Why now? Akasa is the second Indian carrier, after SpiceJetDealroom has a profile for this one. Try Dealroom →, to access the government-backed scheme approved to support airlines' liquidity. The airline operates 40 Boeing aircraft across 36 destinations and continues to target an initial public offering within two to four years.

Read more: The Hindu BusinessLine

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