Etihad secures $210m aircraft financing

25 November 2008

Etihad Airways has agreed to aircraft financing facilities worth more than $210m to acquire two new Airbus A340-600 wide-body aircraft to add to its growing fleet. The Abu Dhabi-based airline has signed a $102m aircraft financing facility with a consortium of regional and international banks to finance the airline's acquisition of one of the 288-seat 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. It 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 the other A340-600 aircraft. One of the aircraft has been flying in Etihad's colours since October 2008 and the other one is due to be delivered in December 2008 to the airline.

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