Abu Dhabi-based airline and UAE’s national carrier has signed a $102m aircraft financing facility with a consortium of regional and international banks to finance the airline’s acquisition of an Airbus A340-600 aircraft. The 12-year finance lease was provided in equal shares by three separate banks, led by co-arrangers and lenders Abu Dhabi Commercial Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation Europe Ltd.
The airline has also mandated a new local bank to raise a further US $110 million under an Islamic financing facility. Al Hilal Bank, a newly established Islamic bank based in Abu Dhabi, will provide a 12-year Islamic finance lease for the purchase of another other A340-600 aircraft. One of the aircraft has already been delivered and is being used since October 2008, the other one is due to be delivered in December 2008 to the airline.
Source: www.ameinfo.com
