Etihad strikes 400 mln dollars deal on aircraft financing

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Mumbai, Nov 29 (UNI) Abu-Dhabi-based Etihad Airways has signed aircraft financing facilities agreement worth nearly 400 million dollars to acquire three new airbus, A340-600 wide-body aircraft, to add to its expanding fleet.

The Airlines has signed a 250 million dollars aircraft financing facility with a consortium of regional and international banks to finance the Airlines' acquisition of two of the 288-seat aircraft, a statement said today.

The Airlines has also mandated a separate group of regional and international banks to further raise a 148 million dollars financing facility, under a French lease structure, to acquire a third new A340-600 aircraft.

The 250 million dollars secured commercial loan facility has been provided by three separate banks, led by co-arrangers and lenders Abu Dhabi Commercial Bank, Arab Banking Corporation (ABC) and Standard Chartered Bank.

The 148 million dollars lease financing is being co-ordinated by Calyon, the international banking and capital investment arm of French bank, Credit Agricole, and involves French lease arrangers, BNP Paribas-Capstar Partners and Natixis Transport Finance, the statment said.

The deal involves four debt providers -- BNP Paribas-Capstar Partners, Calyon, Gulf International Bank and National Bank of Abu Dhabi.

Two of the aircraft have been recently received by Etihad and are already in service. The remaining aircraft is due to be delivered to Etihad in December 2007.

The 398 million dollars facilities are part of several financing deals arranged by Etihad this year, aggregating to nearly 1.4 billion dollars.


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