Emirates Airlines secures financing for Airbus aircraft

Airline Industry Information, Oct 30, 2003

AIRLINE INDUSTRY INFORMATION-(C)1997-2003 M2 COMMUNICATIONS LTD

Emirates Airlines has reportedly secured a EUR195m deal to finance the leasing of two Airbus aircraft.

The financing will cover leasing for two new Airbus A340-500 aircraft, which the airline will utilise on nonstop flights to Sydney and Melbourne, Australia, as well as New York and elsewhere. The deal, supervised by the financial group Credit Agricole Indosuez, was signed with a group of international, mostly European, banks.

The airline will be the first carrier to operate the aircraft, and has already taken delivery of one of the aircraft while a further three will be delivered in November 2003, The Associated Press reported.

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