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Abu Dhabi's Etihad Airways to raise $2 billion for deliveries in 2014
March 26, 2014 / 12:10 PM / 3 years ago

Abu Dhabi's Etihad Airways to raise $2 billion for deliveries in 2014

ABU DHABI (Reuters) - Etihad Airways plans to raise $2 billion to pay for aircraft deliveries this year, the Abu Dhabi-based airline said on Wednesday after road shows in New York and London.

Etihad will take delivery of 18 aircraft this year that include 10 Airbus aircraft and 8 Boeing planes, a statement from the airline said.

“The airline is looking to raise US$2 billion to finance its fleet deliveries in 2014 which will include its first A380 and Boeing 787 aircraft,” Etihad said in a statement, without giving details of how the money will be raised.

Unlisted Etihad which has stakes in Air Berlin <ABI.DE > and India’s Jet Airways (JET.NS) has raised more than $8 billion from 68 financial institutions in the last decade to finance aircraft and engines.

In the past, Etihad’s financing strategy has typically been institutional credit from local and international banks, export credit agencies as well as lease and lease financing.

Senior executives of Etihad are on the roadshows that are held annually in major global financial centers.

Earlier this month, Etihad announced a net profit of $62 million for 2013, up 48 percent, its third year of profit.

Reporting By Stanley Carvalho, editing by Elaine Hardcastle

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