Etihad Airways takes delivery of two locally financed aircraft
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Etihad Airways recently took delivery of its first aircraft to be financed by a local UAE bank since 2008.
First Gulf Bank provided the finance for two Boeing 777-300ER aircraft, to be delivered to Etihad Airways in 2013, through a Sharia-compliant Ijara Muntahia Bittamleek structure. The first of these two Boeing aircraft arrived recently at Abu Dhabi airport from Seattle and the second is expected to be delivered to Etihad Airways in May 2013.
The total facility value offered by First Gulf Bank is approximately US$359 million and it has a financing structure term of 12 years. Within the agreement, First Gulf Bank participates as the Initial Lead Arranger, Underwriter, Facility Agent and Security Trustee.