MAS funds eight aircraft using Islamic finance

Malaysian Airline System (MAS) has entered into a master facility for a Bai’ Bithaman Ajil Islamic financing arrangement with Turus Pesawat Sdn Bhd, a special purpose company owned by the Ministry of Finance, to financing facilities of up to RM5.3 billion to fund the purchase of six A380-800s, one A330- 200F and one A330-300. Set out in a filing with the exchange, the airline states that other expenses covered by the facility include pre-delivery payments including advances paid by MAS for the purchase of the aircraft, the balance purchase price of the aircraft (if any) including buyer furnished equipment, redemption