The Abu Dhabi-based carrier will use the facility to acquire three new Airbus A340-600 wide-body aircraft.

The funds are divided into two parts. A $250m loan is provided by a syndicate of Abu Dhabi Commerical Bank, Arab Banking Corporation, and Standard Chartered Bank. It will finance two of the planes, which have already been delivered to Etihad.

A further $148m lease, arranged by Calyon and BNP Paribas, will finance a third aircraft to be delivered in before the end of the year.