Dubai: Airbus said on Wednesday it has signed an agreement for aircraft spare parts financing with Abu Dhabi National Leasing Company (ADNL), the leasing arm of National Bank of Abu Dhabi (NBAD). As a part of the deal, ADNL will finance spare parts for Airbus’ Flight Hour Services (FHS), according to a statement from Airbus.
Airbus’ Flight Hour Services consists of solutions ranging from component supply and repair to full airframe maintenance.
The agreement was signed in Toulouse, France, by Harald Wilhelm, Chief Financial Officer, Airbus Group; Nigel Taylor, Senior Vice President for Customer, Project and Structured Finance, Airbus Group; Yousuf Abdullah Yousuf, Managing Director, ADNL; and Jawaid Abdullah, Executive Director, ADNL.
Wednesday’s agreement between Airbus and ADNL follows the signing of a Memorandum of Understanding (MoU) a year ago. Under the MoU, ADNL will facilitate and provide aircraft delivery financing solutions to airlines in the Gulf Cooperation Council (GCC) region for the acquisition of aircraft ordered from Airbus. ADNL will in addition provide financing support by way of sale and leaseback transactions with its airline customers for Airbus aircraft.
