Emirate Airlines gets loan to buy two Airbuses

Published March 4th, 2001 - 02:00 GMT

Emirate Airlines has concluded a $190 million agreement in order to finance the purchase of two A330-200 wide-bodied aircraft, reported the Khaleej Times


The financing package, which is quoted in sterling, is structured as a 10-year lease. It was arranged by Babcock and Brown and Singapore Aircraft Leasing Enterprise, with the asset finance subsidiary of Halifax acting as investor and Bankgesellschaft Berlin AG as the lead debt arranger and underwriter. Standard Chartered Bank, Lombard and Arab Bank PLC are also involved. The debt will be financed on a floating rate basis at an average margin of 0.60 percent over the Libor. 


Reportedly it is one of the largest sterling denominated financing arrangements ever concluded. 


The two aircraft that will be purchased are the 14th and 15th of the 21 planes that Emirate Airlines has on order from Airbus Industrie. One of the aircraft was delivered in January and the next one is due to be delivered later in March. – (Albawaba-MEBG) 

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