Dubai Islamic Bank signs $230 million aircraft financing deal with Air Arabia
Dubai Islamic Bank (DIB) and Air Arabia announced today the signing of an aircraft financing deal to facilitate the delivery of six new Airbus A320 aircrafts in 2015.The signing ceremony was held in the DIB head office in the presence of senior executives from both parties. The US$230 million Ijara facility will finance the delivery of a new aircraft every two months starting January 2015, the program culminating with the final unit being handed over by the end of the year.
Air Arabia, recently named amongst the Global Growth Companies (GGC) by the World Economic Forum, has seen its route network expand rapidly in 2014 with the addition on new routes such as Cairo in Egypt, Antalya in Turkey, Tbilisi in Georgia, and Samara in Russia. The low-cost airline pioneer now serves 100 destinations from its four hubs in the UAE, Morocco and Egypt.
Dubai Islamic Bank (DIB), being the first Shariah-compliant commercial bank, leads a pioneering role in driving the global uptake on Islamic banking with an unmatched experience of over four decades. The award-winning Islamic bank has been recently presented with the Best Islamic Bank of the Year award by the 2014 Business Excellence Awards, the Best Sukuk House of the Year award by EMEA Finance Middle East, and the Deal of the Year award by the Islamic Finance News Awards among others thus recognising its solid expertise.
Source: Air Arabia – Dubai Islamic Bank signs $230 million aircraft financing deal with Air Arabia
Related Posts
These are the countries of Europe that most people acquired a citizenship
Germany’s second-largest airline Air Berlin has filed for insolvency
Oil prices rise but Opec production will keep them around $60 for 2014
Saudi Arabia slips on lack of foreign inflows; Egypt flat
Saudi Arabian stocks tumbled entering a so-called death cross
