Dubai's Emirates airline has hired three local banks to arrange a 1.9 billion dirhams ($517.3 million) Islamic loan facility to finance two of its planes, Arabic newspaper Al Bayan reported on Tuesday.
The Dubai government-owned airline has asked Dubai Islamic
Bank, Ajman Bank and Al Hilal Bank to arrange the financing deal for a Boeing 777-300 and an Airbus A380 superjumbo, the paper said quoting unnamed banking sources.
Emirates was not immediately available for comment.
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