Oman Air concludes $34m aircraft acquisition loan

Oman Air has recently concluded a $34.248 million loan to finance its acquisition of a B737-800 aircraft.

This financing arrangement, provided by Barclays Bank PLC and arranged by Barclays Capital, is supported by the Export-Import Bank (Ex-Im) of the U.S. and has a tenure of 12 years.

Oman Air has been able to obtain very attractive terms, especially in the context of the current industry scenario.

The management at Oman Air attributes this success to its realistic and credible future plans, which sees the development of Oman Air as the niche regional carrier.

Ex-Im support has enabled Oman Air not only to benefit from significantly lower finance cost, but has also given a boost to Oman Air in financial circles.

The financing agreement was signed by Abdulrahman Al Busaidy, Oman Air Chief Executive Officer, with U.S. Ex-Im Bank and Barclays Bank in Washington D.C. on June 27.

April Foley, member of Ex-Im Board of Directors, and Andre Gazal, director and head of Structured Trade & Export Finance - Americas, signed the agreement on behalf of Ex-Im Bank and Barclays Bank respectively.

Senior officials from Oman Air, Barclays Bank and Boeing were present at the signing ceremony.