We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Wed 30 Sep 2009 04:19 PM

Font Size

- Aa +

Etihad seals $1bn deal for aircraft finance

UPDATE 1: UAE carrier agrees financing from Europe, US credit agencies for purchases.

UAE carrier Etihad Airways signed $1 billion worth of export credit guarantees to finance eight aircraft to be delivered by the end of 2010, the company said on Wednesday.

Sovereign guarantees from governments of Germany, France, the UK and the United States will improve the carrier's aircraft financing activities in commercial markets, providing access to new capital at competitive margins, the company said in a statement.

The airline, which has a fleet of 47 aircraft currently, rising to 52 by year-end, has firms orders for 100 aircraft that will be delivered between 2011 to 2017.

For the first tranche of the $1 billion programme, Etihad signed deals worth $233 million to finance the purchase of two Airbus A340-600 aircraft. (Reuters)

Arabian Business: why we're going behind a paywall

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.