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Thursday, March 21, 2013

Airbus, ADNL Sign Aircraft Leasing Agreement

Airbus has a new aircraft leasing agreement with Abu Dhabi National Leasing Company (ADNL), the company said Thursday.

ADNL, the financing arm of the National Bank of Abu Dhabi (NBAD), will collaborate with Airbus on leasing, financing and management activities under the newly signed memorandum of understanding (MoU).

The Abu Dhabi-based bank will use the new partnership to increase options for airlines located in the Gulf Council region to lease and finance Airbus aircraft.

The two companies will look to take advantage of the increase in passenger demand in the Middle East, a region that needs more aircraft to support the International Air Transport Association (IATA)’s predicted annual air traffic growth rate of 6.6 percent annually through 2016.

"We understand the power of connectivity to drive the economy. 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 ($39.4 billion) to the UAE economy, justifying the region’s huge investments in airports and airline networks,” said Yousef Abdulla Yousef, managing director of ADNL. More

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