Saudi Arabia's National Air Services (NAS) in USD78.3 million Ex-Im Bank guaranteed loan

Notes and media contacts

Background of parties involved

NAS Since its establishment in 1999 by a group of Saudi investors, National Air Services (NAS) has become the leading provider of aviation services in the Middle East. From its base in Riyadh, the company provides its vast array of customers in the region with complete and innovative aviation services.

Products and services offered include NetJets Middle East (Aircraft Fractional Ownership & Leasing), Aircraft Management Services, Aircraft Charter Services, Al Khayala Airlines which targets business and first class travellers and the recently launched NAS Air, Saudi Arabia's first budget carrier.

Arab Banking Corporation in New York is part of the Bahrain-headquartered ABC Group, a leading bank in the GCC and North Africa that operates as an offshore commercial bank. With nearly 30 years of achievement, ABC provides a full range of retail and commercial banking, corporate finance, discretionary fund management, foreign exchange, derivatives, Islamic banking and financial advisory services in the markets in which it offers those services. It has a widespread network in Arab world countries and international financial centres, including London, Paris, Milan, Frankfurt, New York, Singapore, Tripoli, Tunis, Algiers, Egypt, Bahrain, Beirut, Abu Dhabi, Tehran, Amman and Baghdad.

Ex-Im Bank is an independent U.S. government agency that assists in financing the export of U.S. goods and services to markets around the world, through export credit insurance, loan guarantees, and direct loans. In fiscal year 2006, Ex-Im Bank authorized over $12.1 billion in transactions supporting an estimated $16.1 billion in U.S. exports.

Nadia Mehdid
Head of Corporate Communications
Arab Banking Corporation (B.S.C.)
Tel: +973 17543204
Fax: +973 17531311