São Paulo – Last Thursday (22nd), Airbus and the Abu Dhabi National Leasing Company (ADNL) signed a memorandum of understanding for the sale and financing of aircraft in the Gulf region. According to a press release from the European aircraft maker, the agreement provides that ADNL, which is owned by the Abu Dhabi National Bank, will provide financing so that companies from the Gulf Cooperation Council (GCC) may buy Airbus aircraft. The GCC comprises Saudi Arabia, Bahrain, Qatar, the United Arab Emirates, Kuwait and Oman.
The memorandum of understanding covers financing of new or used aircraft, aircraft pre-payments, and financing on operations. In practical terms, the ADNL will help Airbus provide broader aircraft leasing options in the region.
ADNL managing director Yousef Abdulla Yousef said on signing the memorandum that the aircraft industry contributes approximately US$ 39.4 billion to the Emirates’ economy, and that he intends to make Abu Dhabi into a regional hub for aviation business.
*Translated by Gabriel Pomerancblum
