Wednesday 13 August 2014

Emirates secures $425m Islamic loan | GulfNews.com

Emirates secures $425m Islamic loan | GulfNews.com:



"Emirates have secured a $425 million sharia-compliant loan from a group of UAE banks to finance the acquisition of two Airbus A380 aircraft.



Abu Dhabi Islamic Bank (Adib), Commercial Bank of Dubai (CBD) and Dubai Islamic Bank (DIB) were the joint book runners and initial mandated lead arrangers in the transaction, Adib said in a statement on Tuesday.



Emirates used the loan to take delivery of its 50th A380 in Hamburg last month, according to Adib. The aircraft is scheduled to enter into service sometime in early August, Emirates previously said."



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