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Air India secures refinance loan

According to sources, Air India has secured short-term funds to service Rs 700 crore worth non-convertible debentures and avoided defaulting on the debt payment. The coronavirus outbreak have accentuated the debt-laden national carrier’s woes as it has resulted in suspension of domestic and international flights, and consequently, its revenue flow. It has been reported that the airline needs Rs 30 crore to pay the interest.