Business | Aviation
Al Jaber secures financing for two Embraer Legacy 600 private jets
Package extends 10-year tenure to fund purchase price of aircraft
- Gulf News Report
- Published: 00:00 November 24, 2009
Dubai: Al Jaber Aviation (AJA), the new pinnacle of VIP aviation based in Abu Dhabi, announced that it has successfully closed the financing for two Embraer Legacy 600 private jets.
The company sealed the club deal with the participation of three leading local and international banks, which include Al Hilal Bank as security trustee, security agent and investment manager; National Bank of Abu Dhabi as book runner and BNP Paribas as arranger.
Mohammad Al Jaber, chief executive of Al Jaber Aviation, said: "The deal was initiated and completed despite the consequences of the global financial crisis and is a reiteration of the financial community's trust in Al Jaber.
Diversification
"The financing deal will complement our operational plans and acquire a full capacity fleet. We are diversifying our fleet and will soon have different types of aircraft suiting the needs of our most discerning guests."
The financing package extends a 10-year tenure to finance the purchase price of the aircraft, which have already been delivered to AJA.
The Embraer Legacy 600 private jet is considered among the highest performing aircraft in its category. It can fly non-stop to continental Europe and some parts of Asia, and its cabin has a customised 13-seat configuration.
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