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Article: NBAD to Partner in $1 b Aviation Fund.
- Article from:
- Khaleej Times (Dubai, United Arab Emirates)
- Article date:
- September 29, 2009
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Summary: ABU DHABI u National Bank of Abu Dhabi and GermanyAEs DVB Bank SE are forming a joint-venture to launch a $1 billion investment fund to pay for purchases of commercial aircraft and jet engines.
The fund, to be launched within the next 60 days, will finance the acquisition of assets that the banks will then lease out to international airlines, NBAD officials said on Sunday. The partners expect to purchase mainstream jetliners, primarily those manufactured by Boeing Co. and Airbus, they told Khaleej Times . Aa
"We will be buying aircraft only after ensuring that there will be assured demand from reputed airlines to take them on lease,'' said ...