Airbus Signs MOU on Aircraft Financing with ADNL

Airbus has signed a Memorandum of Understanding (MoU) on cooperation in aircraft financing and leasing with Abu Dhabi National Leasing Company (ADNL), the wholly owned lease finance arm of the National Bank of Abu Dhabi (NBAD), Abu Dhabi’s largest bank.

Under the MoU, ADNL will facilitate and provide aircraft delivery financing solutions to airlines in the Gulf Cooperation Council region for the 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 the airlines in the UAE have been the catalyst for transforming and expanding the air transportation to and from the UAE. The aviation industry contributes more than AED (United Arab Emirates Dirhams) 145 billion to the UAE economy, justifying the region’s huge investments in airports and airline networks,” said Yousef Abdulla Yousef, Managing Director of ADNL. “ADNL puts its hands together with Airbus to increase cooperation between the two organizations and drive forward aviation initiatives to make Abu Dhabi a regional hub for the aviation business.”

Harald Wilhelm, CFO, Airbus & EADS, added, “In the current economic environment, investment in aircraft remains a very attractive proposition and we are pleased to expand our relationship with new players such as NBAD and ADNL. Our modern portfolio of Airbus aircraft is delivering an excellent return on investment and outstanding value for money to our customers.”