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Gulf, Asian lenders taking larger share in global plane financing

European planemaker, Airbus has said cash-rich Middle Eastern and Asian banks are taking a larger share of the $100bn global aircraft financing market, as Western rivals step back due to the liquidity crunch and stricter regulations, Reuters has reported. European commercial banks, previously the primary funding source for airlines, have substantially cut their exposure to the aviation sector after the continent's debt crisis, leaving a funding gap for fast-growing airlines in emerging markets, said Francois Collet, vice president for structured finance at Airbus. They have given way to Asian banks like Development Bank of Japan (DBJ), Sumitomo Mitsui Financial Group Inc. (SMFG) and Mitsubishi UFJ Financial Group Inc., South Korean and Chinese banks, as well as Middle Eastern lenders like National Bank of Abu Dhabi (NBAD) among others, he said.