IslamicFinance.de

Emirates have secured a $425 million shariacompliant loan from a group of UAE banks to finance the acquisition of two Airbus A380 aircraft. Emirates used the loan to take delivery of its 50th A380 in Hamburg last month. The aircraft is scheduled to enter into service sometime in early August. Abu Dhabi Islamic Bank (Adib), Commercial Bank of Dubai (CBD) and Dubai Islamic Bank (DIB) were the joint book runners and initial mandated lead arrangers in the transaction. Emirates is the largest operator of the superjumbo A380 and have a further 90 on order. The airline’s president, Tim Clark, has previously said he is interested in ordering more of the superjumbos if Airbus is able to manufacture a more fuel efficient “neo” version.