Qatar Airways agrees $700m deal to finance planes

FINANCING DEAL: Qatar Airways secures $700 million deal to finance four new Boeing 777s. (Getty Images)

State-owned Qatar Airways said on Tuesday it has secured two financing deals worth $700 million for the purchase of four new Boeing 777 aircraft due for delivery over the next few months.

BNP Paribas, Deutsche Bank AG, Standard Chartered Bank and Calyon are among the banks that carried out the transaction, the airline said in a statement.

"In these difficult times for the banking sector, I am very pleased to see this group of experienced aviation banks regrouping to support Qatar Airways once again," Chief Executive Officer Akbar al-Baker said.

The Doha-based airline said it is aggressively expanding with more than 220 aircraft worth over $40 billion currently on order.

Qatar Airways is one of the fastest growing airlines in the world, operating a fleet of 69 aircraft to 82 destinations across Europe, the Middle East, Africa, Asia and North America from its Doha hub.

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