Air India is looking to raise loans worth $535 million to finance the acquisition of three Boeing 777-300 ER aircraft. Two Boeing aircraft worth $200 million each should be delivered in January 2018. The third one costs $135 million and will be introduced into Air India’s fleet in February 2018.

“The facility should be a direct loan without the requirement for formation of a special purpose vehicle structure which requires title transfer,” the tender document said.

After making required modifications, the two planes will be used to carry President, Vice President, and Prime Minister, the Times of India informs.

In December 2005, Air India placed an order with Boeing for 68 aircraft, including 15 B-777-300ERs. The first Boeing 777-300ER was introduced into Air India‘s fleet in 2007 and since then the airline has already taken the delivery of 12 planes of this type.

Air India is the largest international carrier out of India. As of now, it has a fleet of 115 aircraft.