Qatar secures US$500 million loan

Airline will purchase three Boeing 777s

Qatar Airways has secured a US$500 million finance deal for the purchase of three Boeing 777s with delivery scheduled for the end of 2008.

The 12-month lease was secured by a group of investors including the Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Deutsche Bank AG, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation Europe Limited.

Qatar Airways CEO Akbar Al Baker said: “This financial arrangement shows the confidence international lenders have in Qatar Airways as an airline with a strong vision to grow its international network and strengthen its market presence.”

Source: Routes News

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