50 SKY SHADES - World aviation news

Abu Dhabi's Etihad Said to Seek US$500 Million for Fleet Expansion

Download: Printable PDF Date: 31 Aug 2015 04:50 (UTC) category:
Publisher:
Abu Dhabi's Etihad Said to Seek US$500 Million for Fleet Expansion - Airlines publisher
Tatjana Obrazcova
Source: Bloomberg

Etihad Airways, the Abu Dhabi state-owned carrier, is seeking to raise as much as US$500 million for fleet expansion, according to two people with knowledge of the matter.

The fundraising may include financing from export credit agencies, operating leases and bank loans for five aeroplanes, the people said, asking not to be identified as talks are private. Several groups of local and international banks are bidding to provide the financing, the people said. An Etihad spokesman declined to comment.

Etihad is the third-biggest carrier in the Gulf after Dubai's Emirates Airlines and Doha-based Qatar Airways. The airline has invested in minority equity stakes in eight carriers from Australia to Italy as it seeks to funnel traffic through its Abu Dhabi hub and compete with larger regional peers, especially in markets where aviation rights are restricted or competition is tough.

Etihad, which has more than 200 aircraft on firm order, took delivery of one Airbus A380 in August and is set to receive another in November. It will take four Airbus A321s from August through to November and a Boeing 787 in April 2016, the spokesman said.

The A380 scheduled to fly to New York will feature the Residence, its uber-luxurious offering, starting Dec. 1 for US$32,000 flights between Abu Dhabi and the U.S. city.

The airline has 111 passenger and cargo destinations worldwide, which it serves with a fleet of 118 Airbus and Boeing aircraft.



Loading comments for Abu Dhabi's Etihad Said to Seek US$500 Million for Fleet Expansion...


Recommended

Japan Coast Guard adds three H225s

Japan Coast Guard placed an additional order for three H225 helicopters, taking its total H225 fleet up to 18. The largest Super Puma operator in Japan received three H225s in December 2023 and one in...

Lilium starts production of high-performance battery packs for Lilium Jet

Lilium has started production of the advanced, aviation grade battery packs that will power the Lilium Jet on its first piloted flight, targeted for end of...

Air Center San Diego: KSDM new FBO provider

There is a new premier provider of FBO services in California as Air Center San Diego acquired San Diego Jet Center’s FBO assets at Brown Field Municipal Airport on April 10. The...

airBaltic invites to a unique Technical Department Open Day

airBaltic announces a unique Behind the Scenes Technical Department event on April 25, 2024 in its technical facilities in Riga—an unprecedented opportunity for professionals...

Mobile Apps development The drones news