A deal has been brokered to purchase six new planes for Qatar Airways, reported Gulf News. The financing for the purchase will be through a group composed of Barclay’s Capital, Germany’s Hypo Vereinsbank and Qatar National Bank.
Specifics of the deal were not released, but the financing group has agreed to pay 100 percent the cost of six new Airbus A320s to be delivered between 2001 and 2003. The deal reached will have the finance group make pre-delivery progress payments on the planes. To finance the purchase, Qatar Airways was advised by Aircraft Leasing and Management Ltd.
“This is Qatar Airways’ first foray into the international financing market,” Surinder Sarna, Qatar Airways’ general manager for finance and administration told Gulf News. — (Albawaba-MEBG)