Akasa Air secures ₹740 crore ECLGS loan from IndusInd Bank

What's the deal? Akasa Air has secured a ₹740 crore (about $77.7 million) 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 BoeingDealroom has a profile for this one. Try Dealroom → 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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