Abu Dhabi, Nov 29th, 2007 (WAM): Etihad Airways has agreed aircraft financing facilities worth nearly USD400 million to acquire three new Airbus A340-600 wide-body aircraft to add to its expanding fleet.

The Abu Dhabi-based airline has signed a USD250 million aircraft financing facility with a consortium of regional and international banks to finance the airline's acquisition of two of the 288-seat aircraft.

It has also mandated a separate group of regional and international banks to raise a further USD148 million financing facility, under a French lease structure, to acquire a third new A340-600 aircraft.

The USD250 million secured commercial loan facility has been provided by three separate banks, led by co-arrangers and lenders Abu Dhabi Commercial Bank, Arab Banking Corporation (ABC) and Standard Chartered Bank.

The US148 million lease financing is being coordinated by Calyon, the international banking and capital investment arm of French bank, Credit Agricole, and involves French lease arrangers, BNP Paribas-Capstar Partners and Natixis Transport Finance. The deal involves four debt providers: BNP Paribas-Capstar Partners, Calyon, Gulf International Bank and National Bank of Abu Dhabi.

Two of the aircraft have been recently received by Etihad and are already in service. The remaining aircraft is due to be delivered to Etihad in December 2007.

James Hogan, Etihad Airways' chief executive, said: 'In four short years Etihad has evolved from a start-up airline into a major player in the international aviation arena. It is pleasing that Etihad now enjoys the credibility and confidence of the regional and international financial community to make a deal of this size and significance possible.' The Etihad fleet presently comprises 33 aircraft and will grow to 37 by the end of the year, with the delivery of three Airbus A320 aircraft and one additional Airbus A340-600 aircraft in December.

The USD398 million facilities are part of several financing deals arranged by Etihad this year, aggregating to nearly USD1.4 billion.