Abu Dhabi's Etihad Airways has mandated Sanad Aero Solutions and Engine Lease Finance Corp (ELF) to finance its 23 spare engines in a sale and lease back deal valued at $367 million, the airline said on Wednesday.
Sanad, owned by Abu Dhabi government's Mubadala, will purchase and lease back to Etihad five GE90 and six Rolls Royce Trent 500 engines and ELF will purchase and lease back to Etihad six Rolls Royce Trent 700 and six IAE V2500 engines, a statement from Etihad said.
The transactions are for a 10-year operating lease term. The financing is for 16 in-service spare engines and seven future spare engine deliveries.
No comments:
Post a Comment