Qatar Airways completes financing for two A320 aircraft

It is the first transaction for Crédit Lyonnais with Qatar Airways; DekaBank, Kreditanstalt fûr Wiederaufbau and Standard Chartered Bank are joining Crédit Lyonnais as ECA and Commercial Lenders. The financing will be structured as a finance lease, with the European Export Credit Agencies supporting 85% of the loan and the balance of 15% being a commercial loan.

Qatar Airways is one of the world's fastest growing airlines, serving 41 destinations throughout Europe, Africa, the Middle East and Asia. The A320 will be deployed in a two-class layout on Qatar Airways' regional scheduled services within the Gulf, to the Middle East and to southwest Asia. The airline's excellent product and high efficiency are expected to underpin its continued rapid growth.

Prime Aviation of London-Gatwick Airport advised Qatar Airways on the structuring of this transaction.

Qatar Airways recently signed an agreement with Airbus Industries for an order of 34 aircraft in a $5.1 billion deal that will allow the airline to increase its fleet from 24 to 52 by 2008.

The present fleet consists of 24 new Airbus aircraft including A330-200s, A300-600s, A320-200s, and A319 Corporate Jets. The new order includes A330-200/300s, A340-600HGWs and A321s. The airline has also confirmed orders for the A380 'Super Jumbo'.

The Qatar Airways Group of Companies includes Qatar Airways, Qatar Duty Free, Qatar Aviation Catering Company, Qatar Aviation Services, Qatar Airways Holidays, the Qatar Distribution Company, and United Media International.