Abu Dhabi Commercial Bank provides financing for Etihad Airways’ first Airbus A380-800

Dino D'Amore
By Dino D'Amore December 18, 2014 16:55

Abu Dhabi Commercial Bank provides financing for Etihad Airways’ first Airbus A380-800

Etihad Airways has received financing from Abu Dhabi Commercial Bank (ADCB) for its first Airbus A380-800 aircraft, which was showcased to the public for the first time today at Abu Dhabi International Airport.

ADCB is providing financing for one A380-800 aircraft following a competitive global request for proposal.  The A380 is the first of a fleet of ten A380s on order from Etihad Airways to enter service.

James Rigney, Chief Financial Officer of Etihad Airways, said: “We are thrilled to secure strong interest from Abu Dhabi’s local banks as we continue our journey of expansion.  The new A380 marks the pinnacle of our service development with the unveiling of the Residence by Etihad bringing a new level of luxury to the skies never before seen in aviation history.

“ADCB delivered competitive, market leading terms and conditions – a reflection of the growing sophistication of local banks’ knowledge and expertise that is now giving them the competitive advantage.”

During the past ten years, Etihad Airways has raised more than US$8 billion from 68 financial institutions to fund the purchase of aircraft and engines.

Ala’a Eraiqat, CEO and Board Member of ADCB, said: “We are delighted to have financed Etihad Airways’ first A380-800 following a competitive bidding process and share the success of this state of the art aircraft.  Together, we are championing Abu Dhabi’s commitment towards excellence and innovation, each in our respective fields, creating a legacy for the UAE. The A380 financing has been structured entirely in-house by ADCB meeting the highest aircraft financing standards.”

Dino D'Amore
By Dino D'Amore December 18, 2014 16:55