Qatar Airways, the Doha-based national carrier of the State of Qatar, has recently signed a financing mandate with Natexis Banques Populaires for the long term financing of two Airbus A320 aircraft to be delivered in November and December 2003.
It is the first transaction in which Natexis has been mandated as Arranger for Qatar Airways; they have however acted as ECA and Commercial Lenders and French Agent in two previous A330 financing transactions for Qatar Airways.
The financing will be structured as a finance lease, with the European Export Credit Agencies supporting 85 percent of the loan and the balance of 15 percent being a commercial loan. Natexis has considerable experience in ECA transactions.
Qatar Airways is one of the world’s fastest growing airlines, serving 41 destinations throughout Europe, Africa, the Middle East and Asia. The A320 will be deployed in a two-class layout on Qatar Airways’ regional scheduled services within the Gulf, to the Middle East and to southwest Asia.
Prime Aviation of London-Gatwick Airport advised Qatar Airways on the structuring of this transaction. Qatar Airways recently signed an agreement with Airbus Industries for an order of 34 aircraft in a $5.1 billion deal that will allow the airline to increase its fleet from 24 to 52 by 2008.
The present fleet consists of 24 new Airbus aircraft including A330-200s, A300-600s, A320-200s, and A319 Corporate Jets. The new order includes A330-200/300s, A340-600HGWs and A321s. The airline has also confirmed orders for the A380 ‘Super Jumbo’.
The Qatar Airways Group of Companies includes Qatar Airways, Qatar Duty Free, Qatar Aviation Catering Company, Qatar Aviation Services, Qatar Airways Holidays, the Qatar Distribution Company, and United Media International. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
