Airbus inks MoU with ADNL
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Airbus signed a Memorandum of Understanding (MoU) on cooperation in aircraft financing and leasing with Abu Dhabi National Leasing Company (ADNL).
The MoU was signed by Harald Wilhelm, Chief Financial Officer, Airbus & EADS, Nigel Taylor, SVP Customer, Project and Structured Finance, Airbus & EADS, Yousef Abdulla Yousef, Managing Director, ADNL and Mark Yassin, Senior General Manager of Global Banking at NBAD in Abu Dhabi, United Arab Emirates (UAE).
ADNL and Airbus will share competence and experience to cooperate on leasing projects, financing projects and management activities, such as structuring operating and finance lease transactions, pre-delivery payment financing for Airbus aircraft and delivery financing of new and used Airbus aircraft.
Under the MoU, ADNL will facilitate and provide aircraft delivery financing solutions to airlines in the Gulf Coperation Council region for acquisition of aircraft ordered from Airbus. ADNL will in addition provide financing support by way of sale and leaseback transactions with its airline customers for Airbus aircraft.
“We understand the power of connectivity to drive the economy. We believe that airlines in the UAE have been the catalyst for transforming and expanding air transportation to and from the UAE. The aviation industry contributes more than AED145bn to the UAE economy, justifying the region’s huge investments in airports and airline networks,” said Yousef Abdulla Yousef, Managing Director of ADNL.