Etihad wins finance award
Etihad has won the Middle East Deal of the Year award at the 28th annual New York Air Finance conference.
The Abu Dhabi-based airline earned the accolade for its financing deal on the Airbus A340-600. The US$148 million arrangement involved three French banks working together on the lease. The transaction was co-ordinated by Calyon, the international banking and capital investment sector of the bank, Credit Agricole.
Anne-Marie Siffroy-Pytlak, head of Calyon's Middle East and West Asia aviation team said: "Etihad should be congratulated for securing a very competitive financing deal, combining an innovative tax structure and the support of the regional banks."
Etihad's chief financial officer, James Rigney said: "It is pleasing that we now enjoy a level of credibility and the confidence of the regional and international financial community to make deals of this size and significance possible." He added: "We put a lot of hard work into this particular deal and achieved a key objective of introducing an array of new, international banks to our business. Whilst we don't want to use the same type of financing deal for every transaction, we do believe we have broken new ground with this deal."