Mubasher: Arab Banking Corporation (Bank ABC) on Sunday arranged a loan for an Airbus A320-200 aircraft for DAE Capital.
The Airbus A320-200 aircraft will be leased and operated by Flyadeal, the company which was established by Saudi Arabian Airlines, according to a press release.
The aircraft is one of eight which will be leased by DAE Capital, and Bank ABC funds two aircrafts.
“Our company intends to continue to employ a diversified funding strategy, and maintaining our relationship with Bank ABC via this important transaction is therefore highly appreciated as we enter a new growth phase and transition DAE Capital into the top tier of aircraft lessors,” DAE Capital’s CEO, Firoz Tarapore said.
DAE Capital is specialised in leasing aircrafts, owns and manages fleet of 400 Airbus, ATR and Boeing aircrafts with at a value of $14 billion.
ABC is an international bank, has branches in the MENA and North Africa regions, and has subsidiaries in Jordan, Egypt, Tunisia, and Algeria.
