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Gulf Air signs $70 m facility
25 August 2009
The Bahrain-based carrier, which recently put in place a restructuring plan, has signed a $70 million Ijara facility with Bahrain Islamic Bank to partially finance eight A320s
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[Gulf Air]
[Bahrain Islamic Bank]
[A320]
[Ijara]
[Bahrain]
[Samer Majali]
Gulf Air has signed a $70 million Ijara with Bahrain Islamic Bank (BIsB) to finance aircraft purchases.
The four-year medium-term facility, which was concluded by the national carrier and the bank recently, will be used to partially finance eight A320s, due for delivery in the fourth quarter of 2009 and first quarter 2010. Denton Wilde Sapte is acting for BIsB and Linklaters is representing the airline.
Gulf Air chief executive officer Samer Majali said the carrier has endeavoured to work closely with local...
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