Air Arabia inks US$350 million financing deal

TD Guest Writer

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Air Arabia signed a US$350 million finance deal from a syndicate of two GCC banks to support acquisition of 10 new Airbus A320 aircraft. 

(From Left to Right): Mohammad Sultan Al Qadi, chairman of Commercial Bank International (CBI), HE Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia and Abdulla Mubarak Al-Khalifa, general manager, Group Corporate and Institution Banking, Qatar National Bank (QNB Group)

The airline signed the deal with senior representatives of Qatar National Bank S.A.Q. (QNB Group) and Commercial Bank International (CBI).

The financing facility is to support the purchase of 10 new aircraft, which is part of a larger order for 44 A320s placed with Airbus in 2007.
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