NBAD and Boeing extend new aircraft financing agreement

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By TESTCustomwebLP TESTCustomwebLP March 5, 2015 16:49

NBAD and Boeing extend new aircraft financing agreement

The National Bank of Abu Dhabi (NBAD) and Boeing have extended an agreement to develop aircraft financing and leasing opportunities in the Middle East market together over the past three years. The non-exclusive agreement is aimed at creating opportunities for NBAD to advise, arrange and supply financing to support Boeing new-aircraft sales and used-aircraft remarketing in the region, with Boeing engaging with the bank in joint projects, training and issues advocacy.

“Boeing has enduring partnerships in the Middle East region and the relationship we have built with NBAD is delivering real value to the region in terms of increasing opportunities for local participation in aircraft financing,” said Tim Myers, president of Boeing Capital Corporation. “As a result of the agreement between NBAD and Boeing, we have held a number of seminars and development sessions, including the region’s first Chief Risk Officer Summit for the region’s financial institutions in 2012.”

Locally-generated aircraft financing has grown significantly in recent years and now supports approximately half of the Middle East’s commercial aircraft deliveries.

“Boeing ‘s extensive and insightful perspectives in aircraft financing coupled with many years of transaction execution in this market ensures that this partnership continues to add value to not only the airlines in the region, but also to the financial institutions seeking to extend their involvement in the sector,” said Vasgen Edwards, Managing Director & Global Head of Aviation and Transport at NBAD.

“Boeing has been working with NBAD for several years now and our partnership has proven to be very successful, making a positive impact on the aviation industry,” said Jeffrey Johnson, President, Boeing Middle East. “We continue to work closely with leading financial institutions in the UAE and the Middle East to identify best finance solutions for our customers.”

The memorandum of understanding between NBAD and Boeing was the Middle East’s first working together agreement for aircraft financing and leasing cooperation when it was originally signed in 2012.

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By TESTCustomwebLP TESTCustomwebLP March 5, 2015 16:49