Feb 08 2012 |
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Emirates Airline Hires Banks To Arrange $517 Mln Islamic Loan
Wednesday, Feb 08, 2012
(This story was originally published Tuesday.)
DOHA (Zawya Dow Jones)--Dubai's Emirates Airline , the biggest carrier in the Middle East, said Tuesday it has hired three local banks to arrange a $517 million Islamic loan facility to buy three aircraft.
"Emirates can confirm that we have mandated a 12-year Islamic Lease (Ijara) financing worth AED1.9 billion (US$517 million) to a local consortium led by Dubai Islamic Bank ," a spokesperson for the airline said.
Dubai Islamic Bank is the co-ordinating bank and a mandated lead arranger along with Al Hilal Bank and Ajman Bank, the spokesperson said. The aircraft will be delivered between February and October 2012, Emirates added.
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
08-02-12 0409GMT
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