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18 Dec 2014 16:00

Etihad Airways, the UAE’s national carrier, has received financing from Abu Dhabi Commercial Bank (ADCB) for its first Airbus A380-800 aircraft, which was showcased to the public for the first time today at Abu Dhabi International Airport. 

ADCB is providing financing for one A380-800 aircraft following a competitive global request for proposal.  The A380 is the first of a fleet of ten A380s on order from Etihad Airways to enter service.

James Rigney, Chief Financial Officer of Etihad Airways, said: “We are thrilled to secure strong interest from Abu Dhabi’s local banks as we continue our journey of expansion.  The new A380 marks the pinnacle of our service development with the unveiling of the Residence by Etihad bringing a new level of luxury to the skies never before seen in aviation history.

“ADCB delivered competitive, market leading terms and conditions – a reflection of the growing sophistication of local banks’ knowledge and expertise that is now giving them the competitive advantage.”

During the past ten years, Etihad Airways has raised more than US$8 billion from 68 financial institutions to fund the purchase of aircraft and engines.

Ala’a Eraiqat, CEO and Board Member of ADCB, said: “We are delighted to have financed Etihad Airways’ first A380-800 following a competitive bidding process and share the success of this state of the art aircraft.  Together, we are championing Abu Dhabi’s commitment towards excellence and innovation, each in our respective fields, creating a legacy for the UAE. The A380 financing has been structured entirely in-house by ADCB meeting the highest aircraft financing standards.”

Earlier this year, Etihad Airways delivered a series of comprehensive training seminars to UAE banks to share and promote local, specialist knowledge of aircraft financing.

The Residence by Etihad™, exclusively available on the A380, can accommodate single or double occupancy and features a living room, separate bedroom with a double bed, and ensuite shower room. Guests in The Residence will also have a personal Butler.  It will commence operations from Abu Dhabi to London Heathrow from 27 December 2014. 

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