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Etihad Airways Signs $1bb Aircraft Financing Program

ImageEtihad Airways successfully negotiated the first export credit guaranteed transaction in $1 billion aircraft financing program for 2009-10.  The airline said in a statement “The recently acquired Export Credit Agency (ECA) rating, which is also endorsed by all Organization for Economic Cooperation and Development (OECD) countries, effectively places Etihad alongside investment-grade airlines.”  Chief Executive James Hogan explained Etihad Airways showed they have a clear business plan, have delivered on that plan, and “have a credible prospect of ongoing performance delivery.” 

The first tranch of the program will finance the acquisition of eight aircraft to be delivered by the end of the month.  HSBC Bank Plc will provide $122 million in financing to the airline over a 12 year period. HSBC is the mandated lead arranger, lender, facility agent, security trustee, and hedge provider.

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