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Bangalore: Deccan Aviation, the holding company for Air Deccan, is all
set to receive about $40 million, the last of the four tranches from a deal with
two European banks. Through
a deal, struck last October, with Investec Bank and HSH Nord Bank AG, Germany,
Deccan Aviation raised $100 million to fund its cash flow needs. As a part of
the understanding, the airline had assigned the purchase of its 60 Airbus aircraft
to a special purpose company (SPC), Southwest Trading Ltd, which is funded by
the two European banks. The
funds were payable to the airline in four tranches, spread over a period of 15
months.
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