in Business & Finance

African gets its first Sharia complying aviation lease deal

Posted 6 December 2014 · Add Comment

The first ever Sharia-compliant transaction in Africa's aviation sector has been completed between a Bahrain investment bank and Ethiopian Airlines.

Bahrain bank  Ibdar, structured the deal through under a joint venture with Dubai-based operating lessor Palma Holding . It features a 12-year agreement to acquire four new Bombardier Q400 aircrafts and leasing them to Ethiopian Airlines.
Valued at $100 million, Ibdar Bank contributed as investor with $22 million, while an amount of $78 million was secured through a funding agreement with Canada’s Export Credit Agency, the export finance agency of Canada.
The agreement includes options for an additional four Q400 NextGen aircraft, which Ibdar Bank intends to exercise in the near future, a statement said.
 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Boeing and FedEx express announce order for 24 medium and large freighters

Boeing and FedEx Express today announced a new order for 12 767 Freighters and 12 777 Freighters as the world's largest air cargo carrier continues to invest in the industry's most capable freighters to better serve its customers.

Fastjet increases flights between Harare and Victoria Falls

Fastjet will increase its flights between Harare and Victoria Falls by two additional frequencies with effect from 2 July 2018, reports Afritraveller.

The battle for survival

More than 50 local airlines have emerged and collapsed since Nigeria’s independence in 1960 and, as Chukwu Emeke reports, the cycle looks set to continue.

Honeywell research shows growing investment in 'connected' technology

The commercial aviation industry is at the beginning of a technology investment wave fuelled by advancements in high-speed, in-flight Wi-Fi connectivity according to a new report by Honeywell released today.

Ethiopian to start Flights to Barcelona

Ethiopian Airlines has finalised preparations to launch new flight services to Barcelona, Spain as of July 01, 2018, deploying the ultra-modern B787– 800 Dreamliner.

Livingstone right to presumes it could have a great future

Victoria Falls is one of Africa’s greatest tourist attractions and Zambia has been investing in its airport at Livingstone, which bears the name of a national hero. Humphrey Nkonde reports.

TAA SK0902311218
See us at
AAD2018 BTGroundHandling BT2205130918AirCargoAFA_BT220318210219