Etihad to raise $2bn for buys

March 27, 2014 - 8:03:26 am

ABU DHABI: Etihad Airways plans to raise $2bn to pay for aircraft deliveries this year, the Abu Dhabi-based airline said yesterday after road shows in New York and London.

Etihad will take delivery of 18 aircraft this year that include 10 Airbus aircraft and eight Boeing planes, a statement from the airline said. Unlisted Etihad which has stakes in Air Berlin  and India’s Jet Airways has raised more than $8bn from 68 financial institutions in the last decade to finance aircraft and engines.

In the past, Etihad’s financing strategy has typically been institutional credit from local and international banks, export credit agencies as well as lease and lease financing. Senior executives of Etihad are on the roadshows that are held annually in major global financial centres.

Etihad announced a net profit of $62m for 2013, up 48 percent, its third year of profit. Reuters