Al Jaber closes aviation financing deal for two Embraer Legacy 600 private jets

2009-11-22

Abu Dhabi; November 22, 2009: Al Jaber Aviation (AJA), the new pinnacle of VIP aviation based in Abu Dhabi, announced that it successfully closed the financing for two Embraer Legacy 600 private jets. The company sealed the club deal with the participation of three leading local and international banks including Al Hilal Bank P.J.S.C as security trustee, security agent and investment manager; National Bank of Abu Dhabi P.J.S.C as book runner and BNP Paribas as arranger.

Mohammed Al Jaber, CEO of Al Jaber Aviation, said: “The deal was initiated and completed despite the consequences of the global financial crisis, and is a reiteration of the financial community’s trust in Al Jaber. The financing deal will complement our operational plans and acquire a full capacity fleet. We are diversifying our fleet and will soon have different types of aircraft suiting the needs of our most discerning guests.”

The financing package extended a 10-year tenure to finance the purchase price of the aircraft, which have been delivered already to AJA. The Embraer Legacy 600 Private Jet planes are considered among the highest performing aircraft in its category. It can fly non-stop to continental Europe and some parts of Asia, and its cabin comprises a customized 13-seater alignment.

Mr. Al Jaber added: “We appreciate the support and commitment we received from Al Hilal Bank P.J.S.C, National Bank of Abu Dhabi P.J.S.C and BNP Paribas. With the support of our partners, we are committed to further strengthen our aviation business by adhering to our philosophy of delivering an unparalleled traveling experience by adopting the highest standards of luxury. Our growth goals are aligned to the UAE supporting leadership’s directives to develop Abu Dhabi as a major hub for VIP aircraft services.”

midimg