European plane maker Airbus has signed an agreement with a unit of the UAE’s largest lender to provide aircraft financing solutions to airlines in the Gulf region.
Airbus said in a statement that it has inked a memorandum of understanding on cooperation in aircraft financing and leasing with Abu Dhabi National Leasing Company (ADNL), the lease finance arm of the National Bank of Abu Dhabi.
Under the agreement, ADNL will facilitate and provide aircraft delivery financing solutions to airlines in the GCC for the acquisition of aircraft ordered from Airbus.
ADNL will also provide financing support by way of sale and leaseback transactions with its airline customers for Airbus aircraft.
Yousef Abdulla Yousef, managing director of ADNL, said: “We understand the power of connectivity to drive the economy. We believe that the airlines in the UAE have been the catalyst for transforming and expanding the air transportation to and from the UAE.
“ADNL puts its hands together with Airbus to increase cooperation between the two organisations and drive forward aviation initiatives to make Abu Dhabi a regional hub for the aviation business.”
Harald Wilhelm, CFO, Airbus and EADS, added: “In the current economic environment, investment in aircraft remains a very attractive proposition and we are pleased to expand our relationship with new players such as NBAD and ADNL.”