- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 05:07 06:20 12:29 15:54 18:33 19:47
Two UAE banks First Gulf Bank (FGB) and Abu Dhabi Commercial Bank (ADCB) and Saudi Arabia’s The National Commercial Bank (NCB) have signed financing deals with Abu Dhabi-based Etihad Airways, said press statements.
The financing from FGB and NCB is provided through Shariah-compliant facilities following a request for proposal issued in May this year, which saw high levels of interest from global banks and leasing companies.
FGB and NCB won the mandate for the financing based on very competitive pricing and terms against stiff international competition. Etihad Airways currently has 109 aircraft in its fleet and a further 97 Boeing aircraft on order, including 71 B787s.
James Rigney, Chief Financial Officer of Etihad Airways, said: “The deal with FGB and NCB provides financing that enables us to expand our fleet significantly and deliver an unrivalled product on the new Boeing 787, creating an unmatchable guest experience through our first-of-kind, re-modelled First, Business and Economy Class cabins.
The Boeing 787-9 will enter into service next year to operate flights between Abu Dhabi and Düsseldorf and between Abu Dhabi and Doha. The Boeing 787-9 will be introduced on six of the airline’s routes from February to June 2015, including Washington D.C., Mumbai, Brisbane and Moscow.
Etihad Airways received financing from Abu Dhabi Commercial Bank (ADCB) for its first Airbus A380-800 aircraft, which was showcased to the public for the first time today at Abu Dhabi International Airport.
ADCB is providing financing for one A380-800 aircraft following a competitive global request for proposal. The A380 is the first of a fleet of ten A380s on order from Etihad Airways to enter service.
Earlier this year, Etihad Airways delivered a series of comprehensive training seminars to UAE banks to share and promote local, specialist knowledge of aircraft financing.
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