By John Irish
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)