Air Algerie secures loan to revamp fleet
National carrier Air Algeriehas agreed a Eur 502 million ($643 million) loan to completely revamp its fleet during 2005. The six-year government loan, to be delivered in three stages at a rate of 4.6 per cent, will be used to finance the acquisition of six Aerospatiale ATR 72-500s, five Airbus 330-200s and three Boeing 737-800s. The first Eur 52 million ($67 million) tranche will be used to buy the ATR 72-500 planes, and will be followed by a second tranche of Eur 293 million ...
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