Business | Aviation
Airbus and Kuwait plan finance unit
Kuwait's Islamic firm Investment Dar is in talks with European plane maker Airbus to set up a joint venture to finance aircraft purchases, a newspaper said.
- Reuters
- Published: 00:24 June 24, 2007
Kuwait City : Kuwait's Islamic firm Investment Dar is in talks with European plane maker Airbus to set up a joint venture to finance aircraft purchases, a newspaper said.
Kuwait's Al Rai newspaper said the joint venture would have a capital of 100 million dinars ($347.1 million), of which 50 per cent would be sold in a private placement.
It did not disclose the source of the report.
Investment Dar could not be immediately reached for comment. A spokesman for EADS had no immediate comment.
Investment Dar would own 30 per cent, while Airbus would get 20 per cent of the new firm, the paper said.
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