UAE: AGREEMENT TO RENT AIRPLANE FOR THE UAE AIRLINE COMPANY.(Airbus 200 leasing, financing agreement)(International Pages)(Brief Article)

IPR Strategic Business Information Database, June, 2002

Al-Bayan newspaper gave details of an agreement for financial leasing of an airplane of the Airbus 200/330I type signed between the UAE Airline Company and the HSBC Bank. The paper noted that the agreement was signed in mid- March 2002 in the main branch of the HSBC Bank in Hong Kong and it contains funding for the plane for a period of ten years.

The paper added that the funding is also supported by the Dubai Islamic Bank, The Dubai National Bank, and the ABC Islamic Bank. The paper also noted that the Deputy Manager for Finance of the UAE Airline, Dermont Manyon, signed the agreement together with the Deputy Manager for Operations of the Dubai National Bank, Hassan al-Maiza, and the General Manager of the Dubai Islamic Bank, Bati Halifa Ilfilasi.