São Paulo – Etihad Airways, the Abu Dhabi-based airline, is shopping for US$ 2 billion in loans this year. The cash will be spent on payments of aircraft pending delivery and on investment in other airlines, Etihad’s CFO James Rigney said last Thursday (18th). The information was published on the website of newspaper Gulf News. According to the newspaper, early this year, Etihad executives met with potential financiers in London and New York.
Before 2014 is over, the airline will receive 18 aircraft: ten from Europe’s Airbus and eight from the US’ Boeing. The first A380, the world’s largest commercial aircraft, should be delivered to Etihad in December. The A380 will have a first-class configuration with a two-seater suite. The first destinations the aircraft will fly to from Abu Dhabi will be London and New York.
Another part of the loans should be allocated to investment in partner airlines. Etihad already owns stakes in JetAirways, from India, Air Lingus (Ireland), AirSerbia (Serbia) Air Seychelles, Virgin Australia, Etihad Regional (Switzerland), airberlin (Germany) and Alitalia.
In August, the company announced a deal to purchase a 49% stake in Alitalia for 560 million euros. The deal is pending approval from European Union regulators.
Still according to Gulf News, Etihad had secured a US$ 2 billion loan last year to fund its growth strategy and acquisitions. In the past decade, the airline loaned a combined US$ 8 billion from 68 financial institutions. The Abu Dhabi airline has orders for 200 aircraft pending delivery. Etihad started flying to South America in 2013 and currently flies daily between Abu Dhabi and São Paulo.
*Translated by Gabriel Pomerancblum
