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Gulf airlines close financing deals for 16 aircraft
Dubai’s Emirates airline has signed a Dh1.1 billion ($299.5 million) financing deal with a group of banks for the purchase of two Boeing planes.
Dubai — Gulf-based airlines have closed financing agreements for a total of 16 Boeing and Airbus aircraft, according to statements from the carriers and banks involved.
The region’s airlines are securing funds as they take delivery of what Boeing has forecast to be a need for 2,610 aircraft by 2033, valued at $550 billion.
Dubai’s Emirates airline has signed a Dh1.1 billion ($299.5 million) financing deal with a group of banks for the purchase of two Boeing planes.
First Gulf Bank, the third-largest lender by assets in the United Arab Emirates, led the club finance lease package on behalf of Emirates for the two 777-300ER aircraft, the bank said in a statement.
Separately, Dubai Islamic Bank and Air Arabia said they had signed a $230 million Islamic financing deal to cover the purchase of six new Airbus A320 aircraft in 2015 by the budget airline.
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