Qatar Airways enters into two financing agreement for four new B777s
- Agreement A: A USD350 million finance lease agreement to purchase two new B777 aircraft (B777-300ER and B777-200LR) followed a 12-year agreement with five international banks (Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Deutsche Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation Europe Limited) .One B777-300ER is scheduled for delivery this month and one B777-200LR is due to be delivered in Nov-2009. Standard Chartered Bank acted as facility agent and security trustee.
- Agreement B: Worth USD350 million for the financing of two new B777 aircraft. The airline appointed Calyon and Natixis Transport Finance as Joint Arrangers for the financing of one B777-300ER aircraft scheduled for delivery in Oct-2009 and one B777-200LR scheduled for delivery in Dec-2009.The transaction is an up to 12-year, two-tranche finance lease structure, within financing underwritten and financed by a pool of four banks (Calyon, Credit Suisse, Helaba, and Natixis Transport Finance).
The Doha-based airline is on an aggressive expansion drive with more than 220 aircraft worth over USD40 billion currently on order. [more]
Qatar Airways: “In these difficult times for the banking sector, I am very pleased to see this group of experienced aviation banks regrouping to support Qatar Airways once again. This clearly demonstrates the finance community’s continued support for Qatar Airways as it forges ahead with robust growth at a time when the rest of the airline industry is consolidating," Akbar Al Baker, CEO. Source: Company Statement, 29-Sep-2009.