Etihad Airways mandates National Bank of Abu Dhabi and Calyon to lead arrange financing for 12 Airbus aircrafts

Under this mandate, NBAD/Calyon will jointly arrange the financing for the twelve aircraft under a two-tranche structure combining a 12 year European export credit supported tranche and a commercial stretch loan creating a balloon at maturity. The aircraft are scheduled for delivery between April 2006 and June 2008. The financing is especially structured to meet the specific requirements of Etihad for the acquisition of these new generation aircraft, including the recently launched double deck Airbus A380-800.

"This agreement reinforces the confidence the financial industry has in the future of Etihad Airways," said H.E. Dr. Ahmed Bin Saif Al Nahyan, Chairman of the Abu Dhabi Civil Aviation Department and Chairman of Etihad Airways. "We appreciate the support of local and international companies that share our aspirations of the UAE and want to work in partnership with us to meet our ambitious growth strategy. We are very keen on partnering with Abu Dhabi based financial institutions and we are committed to promoting Abu Dhabi as leisure and business hub in the region. Etihad will play a major role in connecting the world to Abu Dhabi and the UAE and partnerships such as this are of crucial importance. "

Mr. Michael H Tomalin, CEO of NBAD said, "We are delighted and honoured to win this prestigious mandate for this maiden ECA-backed financing for Etihad. I am confident that NBAD with our deep knowledge of local and regional markets and Calyon with their vast experience and expertise in arranging ECA financing for aircraft purchases will together enable Etihad to benefit from an optimal financing package for these 'state-of-the-art' aircraft. It is indeed a privilege to be associated with Etihad in yet another transaction and we remain fully committed to the national airline in its ambitious growth plan which is entirely consistent with the stated objective of the Emirate of Abu Dhabi to promote travel and tourism in the Emirate.

Mr. Marc Tabouis Calyon, Global Head of Structured Finance and Member of the Executive Committee commented, "Calyon is proud and honoured to support the development of Etihad Airways jointly with National Bank of Abu Dhabi, and at the same time to facilitate the sales of our valued client Airbus."