ETIHAD AIRCRAFT FINANCE NEEDS TO REACH $13.3 BILLION

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By TESTCustomwebLP TESTCustomwebLP November 29, 2010 20:53

ETIHAD AIRCRAFT FINANCE NEEDS TO REACH $13.3 BILLION

To finance the large amount of aircraft Etihad Airways has on order, the airline is estimated to need to raise $13.3 billion in the next decade. This accounts for the $15.8 billion Etihad has indicated it plans to spend on aircraft and spare engines until 2020. James Rigney, chief financial officer of Etihad, made the comments at an investor conference in London.

The large figure demonstrates just how important it is for the airline to continue to have access to export credit financing. Last year, the form of financing was used to finance 14% of deliveries.

To help gain more favourable financing, the airline has indicated it may seek a credit rating to help improve its ability to access funding once it moves to profitability in 2012.

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By TESTCustomwebLP TESTCustomwebLP November 29, 2010 20:53
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