Business | Aviation
Etihad inks deal to lease two aircraft
Abu Dhabi-based Etihad Airways said yesterday it has signed a contract with New York-based CIT Aerospace for the lease of two new Airbus A320-200 aircraft.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 00:43 May 9, 2008
Abu Dhabi; Abu Dhabi-based Etihad Airways said yesterday it has signed a contract with New York-based CIT Aerospace for the lease of two new Airbus A320-200 aircraft.
A spokesman for Etihad, Leo Seaton, wouldn't comment on what the contract was worth, citing commercial sensitivity.
However, an aviation industry source told Gulf News that an airline company typically would be expected to pay in the region of $5 million per year per aircraft for a narrow-bodied aircraft of this make.
Power planes
As of April 2008, 3,471 A320-200 aircraft have been built by the French plane maker. The purchase price of a single unit is about $73.3 million.
The two A320-200s are scheduled for delivery to the Abu Dhabi-based airline by the end of 2008. The aircraft will be powered by IAE V2527-A5 engines.
"Etihad leases aircraft according to aircraft availability and also to give the airline greater short and medium term flexibility in structuring the financing of its fleet and the expansion of its growing network," said Seaton.
The deal confirms Etihad's status as CIT Aerospace's largest customer in the Middle East.
"The addition of these two new A320 aircraft will enable Etihad to add new routes to our expanding flying schedule - including Moscow and Almaty in Khazakhstan, where we will launch new services to, this December," an Etihad statement quoted the company's senior vice president, James Rigney, as saying.
The two narrow-body aircraft are the first new A320-200s that CIT has leased to Etihad. Currently, Etihad leases two A330s from CIT and has two additional A330-200s on order for delivery in early 2009.
Share this article
Popular in Business
Business Editor's choice
-
What to expect at the Dubai Airshow
We preview what types of aircraft to expect at the Dubai Airshow
-
Air Arabia revamps its website
Upgraded site offers new features, accessible in range of languages
-
Dubai looks ahead to 2010 with new projects
Global visitor numbers up 4% on year and occupancy rates remain strong
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
