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UAE’s Etihad Airways to receive USD169m lease finance

02 Feb 2012

(MENAFN) Etihad Airways said that in order to lease spare engine parts, the carrier would get USD169 million in financing from Mubadala, the Abu Dhabi investment fund, and a commercial bank in the emirate, reported Emirates 24/7.

The carrier added that the facility would be arranged by Sanad Aero Solutions, which is a unit of Mubadala, and Abu Dhabi National Leasing (ADNL), the lease finance arm of National Bank of Abu Dhabi (NBAD).

The Abu Dhabi-based firm also said that a fully underwritten long-term lease facility was provided by ADNL to Sanad in order to acquire and lease back 5 GE90 and 6 Rolls Royce Trent 500 engines.

It is worth noting that each of the 11 engines is contracted for a ten-year operating lease term.

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