Abu Dhabi: Union National Bank (UNB) on Thursday announced that it has signed $116.8 million (Dh429 million) deal with the Abu Dhabi-based private charter airline Royal Jet for financing two Boeing 737-700 BBJ aircraft due for delivery later this year.
Ayman Adel Kamal, executive vice president from UNB said that the firm is delighted to have financed the two Boeing — aircrafts expected to be delivered in September and December 2015.
“This is our first blueprint finance to Royal Jet and we look forward to many more deals to follow.”
Captain Patrick Gordon, acting president and chief executive officer of Royal Jet, said it remains on schedule with their fleet replacement and expansion programme that will increase Royal Jet’s fleet to 20 aircraft by the year 2020.
“Our fleet expansion is central to our long-term strategic plan that will allow us to expand our network to meet the growing demand and provide our guests with a superior offering and increased capacity.”
Royal Jet is jointly owned by Abu Dhabi Aviation and the Presidential Flight Authority.
With six Boeing Business Jets (BBJs), the company said on its website it is the world’s largest independent BBJ operator. Royal Jet is involved in luxury VIP aircraft charter, medical evacuations, charter brokerage etc.
