Emirates airline has signed a financing agreement for Dh326 million for a new Airbus A330-200 aircraft, the 17th of 21 ordered. The financing, structured as a 10-year finance lease, was arranged by HSBC and guaranteed by the UK's Export Credit Guarantee Department, Germany's Hermes and Frances Coface.
Other banks involved are DGZ.DekaBank, Deutsche Kommunal Bank, Norddeutsche Landesbank Girozentrale, Kreditanstalt Fuer Wiederaufbau, National Bank of Dubai and British Arab Commercial Bank.
The credit is financed at a fixed rate of 5.94 per cent, while the commercial loan is financed at an all-in margin of 60 bps over dollar Libor. Emirates corporate treasurer Riyaz Peermohamed said, "The transaction is notable as export credit finance has been combined with attractive financing provided by a Dubai-based bank."
The airline also has on order seven B777-300s and six long-range A340-500 aircraft, with options on three A330-200s and 10 A340-500s. It was also the first airline to sign a firm order for the world's largest airliner, the A380 superjumbo. It has ordered five of the passenger version and two freighters. The first will be delivered by 2006.
Emirates signs financing for 17th Airbus 330
Emirates airline has signed a financing agreement for Dh326 million for a new Airbus A330-200 aircraft, the 17th of 21 ordered. The financing, structured as a 10-year finance lease, was arranged by HSBC and guaranteed by the UK's Export Credit Guarantee Department, Germany's Hermes and Frances Coface.
