Emirates approves $425m loan for acquisition of two Airbus A380

August 14, 2014 10:18 am

Dubai’s Emirates Airline has approved a $425m loan from a group of banks to fund the acquisition of two Airbus A380 superjumbos, one of the lenders said on Tuesday. Abu Dhabi Islamic Bank (ADIB), Commercial Bank of Dubai and Dubai Islamic Bank were joint bookrunners and lead arrangers for the sharia-compliant financing, ADIB said in a statement, Zawya reported. Emirates used the loan to take delivery of its 50th superjumbo, the bank said. The Dubai-based carrier is the world’s largest operator of the A380 jets. In November, it announced plans to buy another 50 from the European planemaker at the Dubai Air Show.