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Etihad Airways signs Major Financing Deal for Five Boeing 777-300ER Aircraft

Search ASIA Travel Tips .com 23 January 2006

Etihad Airways has concluded financing arrangements worth US$ 450 million with leading UAE banks and HSBC Bank Middle East for five new Boeing 777-300ER aircraft.

The Etihad agreement, which covers an operating lease for a 12-year term, was made with National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, First Gulf Bank and HSBC Bank Middle East as mandated lead arrangers and with Abu Dhabi Investment Company as lead arranger.

This ground-breaking deal demonstrates Etihads continued growth in fleet size and our deepening relationship with the domestic and international banking sector. Strengthening our ties with these banks will help us finance a number of Etihads future aircraft deliveries and continue to develop our global presence, said Robert Strodel, CEO, Etihad Airways.

Michael Ladenburg, Head of Corporate Banking at National Bank of Abu Dhabi, commented National Bank of Abu Dhabi is proud to have been invited to play a major role in this maiden transaction for Etihad, and to be associated with the first aircraft purchases by our national airline. We are grateful for the support of the other banks who have worked with us to provide the financing, and I am sure that I speak for them all when I say how much we look forward to assisting Etihad with its substantial investment programme.

The first of these new state-of-the-art aircraft is due to arrive in late January.

See other recent news regarding: Airlines, Etihad Airways, Boeing

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