DUBAI, May 21 (Reuters) - Budget airline Air Arabia

AIRA.DU , the only publicly-listed carrier in the United Arab Emirates, signed a $350 million loan to finance its purchase of 10 new Airbus A320 aircraft, the airline said in a statement on Tuesday.

The Sharjah-based airline said Qatar National Bank QNBK.QA and Abu Dhabi-based Commercial Bank International CBI.AD arranged the loan, without providing terms of the loan facility.

Air Arabia, which posted a 20 percent rise in first-quarter net profit, said the purchase of 10 new Airbus planes are part of a larger order for 44 A320 flights it placed with the planemaker in 2007.

(Reporting by Dinesh Nair; Editing by David French)

((dinesh.nair@thomsonreuters.com)(+ 971 4 366 4265)(Reuters Messaging: dinesh.nair.reuters.com@reuters.net))

Keywords: EMIRATES AIRARABIA/LOAN