Qatar Airways signs aircraft financing deal with Credit Lyonnais
Qatar Airways, the Doha-based national carrier of the State of Qatar, has recently signed a financing mandate with Credit Lyonnais for the long term financing of two Airbus A320 aircraft to be delivered in March and October 2004.
It is the first transaction for Credit Lyonnais with Qatar Airways; DekaBank, Kreditanstalt f_r Wiederaufbau and Standard Chartered Bank are joining Crédit Lyonnais as Export Credit Agency (ECA) and Commercial Lenders.
The financing will be structured as a finance lease, with the European Export Credit Agencies supporting 85% of the loan and the balance of 15 percent being a commercial loan. Prime Aviation of London-Gatwick Airport advised Qatar Airways on the structuring of this transaction.
Qatar Airways is one of the world's fastest growing airlines, serving 41 destinations throughout Europe, Africa, the Middle East and Asia. The A320 will be deployed in a two-class layout on Qatar Airways’ regional scheduled services within the Gulf, to the Middle East and to southwest Asia.
Qatar Airways recently signed an agreement with Airbus for an order of 34 aircraft in a $5.1 billion deal that will allow the airline to increase its fleet to 56 by 2008. The present fleet consists of 24 new Airbus aircraft including A330-200s, A300-600s, A320-200s, and A319 Corporate Jets.
The new order includes A330-200/300s, A340-600HGWs and A321s. The airline has also confirmed orders for the A380 ‘Super Jumbo’. The Qatar Airways Group of Companies includes Qatar Airways, Qatar Duty Free, Qatar Aviation Catering Company, Qatar Aviation Services, Qatar Airways Holidays, the Qatar Distribution Company, and United Media
International. — (menareport.com)
© 2003 Mena Report (www.menareport.com)