Abu Dhabi National Bank opens way for leasing deals with Airbus

ADNL was one of the financial institutions approached by Emirates with regard to its expansion and the UAE national carrier Etihad also has ambitious growth plans and requirement for additional airraft.

"We understand the power of connectivity to drive the economy,” said Yousef Abdulla Yousef, Managing Director of ADNL. “We believe that the airlines in the UAE have been the catalyst for transforming and expanding the air transportation to and from the UAE. The aviation industry contributes more than AED145 billion ($41billion) to the UAE economy, justifying the region’s huge investments in airports and airline networks.”

The MoU was signed by Harald Wilhelm, Chief Financial Officer, Airbus & EADS, Nigel Taylor, SVP Customer, Project and Structured Finance, Airbus & EADS, Yousef Abdulla Yousef, Managing Director, ADNL and Mark Yassin, Senior General Manager of Global Banking at NBAD in Abu Dhabi.

ADNL and Airbus will share competence and experience to cooperate on leasing projects, financing projects and management activities, such as structuring operating and finance lease transactions, pre-delivery payment financing for Airbus aircraft and delivery financing of new and used Airbus aircraft.

Under the MoU, ADNL will facilitate and provide aircraft delivery financing solutions to airlines in the GCC region for the acquisition of  Airbus aircraft. ADNL will in addition provide financing support by way of sale and leaseback transactions with its airline customers for Airbus aircraft.

Yousef added: “ADNL puts its hands together with Airbus to increase cooperation between the two organisations and drive forward aviation initiatives to make Abu Dhabi a regional hub for the aviation business.”

Wilhelm said "In the current economic environment, investment in aircraft remains a very attractive proposition and we are pleased to expand our relationship with new players such as NBAD and ADNL. Our modern portfolio of Airbus aircraft is delivering an excellent return on investment and outstanding value for money to our customers".

From left to right: Mr. Nigel Taylor, SVP Customer, Project and Structured Finance, Airbus & EADS, Mr. Harald Wilhelm, Mr. Mark Akram Yassin and Mr. Jawaid Abdullah.