Qatar secures new financing for 777s

QATAR Airways has struck two deals worth US$500 million for the financing of three Boeing 777 aircraft. This is on top of the $500 million Air Cargo News reported on in November for another three 777s.

Qatar appointed Calyon and Natixis Transport Finance as joint arrangers for the financing of two recently-delivered Boeing 777-300ER aircraft and Arab Bank, Calyon, Europe Arab Bank, ING Bank and Natixis Transport Finance as arrangers for the financing of one Boeing 777-200LR aircraft due to be delivered in spring 2009.

The financing has been underwritten and financed by a pool of eight banks: Arab Bank, Calyon, DekaBank, Europe Arab Bank, Fortis Bank, ING Bank, KfW IPEX-Bank GmbH, and Natixis Transport Finance.

Qatar’s CEO, Akbar Al Baker, said of the deal: “In the current financial climate, banks are focusing their liquidity on the strongest airlines. I am very pleased that these banks continue to demonstrate their support for Qatar Airways.”

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