Etihad approaches banks for over $500 mln for Boeing deliveries - sources
An Etihad Boeing 787-9 Dreamliner aircraft takes off from Zurich Airport January 9, 2018. REUTERS/Arnd Wiegmann
DUBAI (Reuters) - Abu Dhabi’s Etihad Airways has approached banks to raise over $500 million to finance four Boeing 787 Dreamliners it previously ordered, two sources familiar with the matter said.
The state carrier sent a request for proposals to banks last week for the financing, which is likely to be provided through bilateral loans or loans involving a small club of lenders, they said.
Etihad declined to comment.
It is common for airlines to approach banks to help finance aircraft deliveries.
Loans for 787s generally have a maturity of 12 years, the sources said, adding that the financing would likely be provided by Abu Dhabi banks.
Etihad operates a fleet of 26 787s and had a further 45 still to be delivered as of December 2018, according to Boeing’s website.
Additional reporting by Alexander Cornwell; editing by Emelia Sithole-Matarise
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