National Bank of Abu Dhabi (NBAD) and Calyon Corporate and Investment Bank will lead arrange in excess of Dh5.5bn (US$1.5bn) financing to Etihad Airways for purchase of 12 new Airbus aircraft.


Etihad will take delivery of the 12 aircraft comprising four A340-500s, four A340-600s and four A380-800s between April 2006 and June 2008.

“The financing is specially structured to meet the specific requirements of Etihad for the acquisition of these new generation aircraft including the recently launched double deck Airbus A380-800,” says Ahmad Bin Saif Al Nahyan, chairman of Etihad. “This agreement reinforces the confidence the financial industry has in the future of Etihad Airways.”


“The financing is in excess of US$1.5bn and the process has just begun. Some other banks are likely to join the financing when the facility goes to general syndication,” a senior banker closely involved has said.