Etihad secures US$210 million fleet financing
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Etihad Airways has agreed a deal worth in excess of US$210 million to acquire two new Airbus A340-600 wide-body aircraft, Gulf News has reported.
The Abu Dhabi-based airline has reportedly signed a US$102 million aircraft financing facility with a consortium of regional and international banks to finance its acquisition of one of the 288-seat aircraft. The 12-year finance lease was provided by three separate banks; Abu Dhabi Commercial Bank, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation Europe Ltd.
The carrier is also reported to have mandated a new local bank to raise a further US$110 million under an Islamic financing facility. Abu Dhabi-based Al Hilal Bank will provide a 12-year Islamic finance lease for the purchase of the other A340-600.
One of the aircraft has been flying in Etihad’s colours since October, while the second is due to be delivered in next month, Gulf News added.
James Hogan, Etihad Airways’ Chief Executive, said; “These deals have been secured at a time of extreme liquidity stress in the international banking market, and their conclusion in this adverse environment is indicative of the strong relationship between Etihad Airways and the regional and international financial community.”
Etihad plans to have a fleet of 42 aircraft by the end of the year.
Comments are closed.