February 6, 2019 / 2:38 PM / 12 days ago

Etihad approaches banks for over $500 million for Boeing deliveries - sources

FILE PHOTO: The new Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, United States, March 31, 2017. REUTERS/Randall Hill

DUBAI (Reuters) - Abu Dhabi’s Etihad Airways has approached banks to raise over $500 million (386 million pounds) to finance four Boeing 787 Dreamliners it previously ordered, two sources familiar with the matter said.

The state carrier sent a request for proposals to banks last week for the financing, which is likely to be provided through bilateral loans or loans involving a small club of lenders, they said.

Etihad declined to comment.

It is common for airlines to approach banks to help finance aircraft deliveries.

Loans for 787s generally have a maturity of 12 years, the sources said, adding that the financing would likely be provided by Abu Dhabi banks.

Etihad operates a fleet of 26 787s and had a further 45 still to be delivered as of December 2018, according to Boeing’s website.

Additional reporting by Alexander Cornwell; editing by Emelia Sithole-Matarise

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below