NBAD and DVB in plan for fund

The National Bank of Abu Dhabi (NBAD) and Germany’s DVB Bank plan to launch an aviation investment fund that will acquire assets valued at more than US$1 billion (Dh3.67bn) within two years.

The fund will invest principally in aircraft and engines on lease to international airlines.

NBAD and DVB will act as 50-50 joint venture partners in establishing and managing the fund and both will also invest, NBAD said yesterday. It will target investors from the UAE and GCC region.