Qatar Airways has struck two deals worth $500 million for the financing of three Boeing 777 aircraft in a move that clearly demonstrates the finance community's firm support and commitment towards one of the world's fastest growing airlines.

The Doha-based carrier appointed Calyon and Natixis Transport Finance as Joint Arrangers for the financing of two recently-delivered Boeing 777-300ER aircraft.

This transaction received a Jane's Transport Finance 'Deal of the Year' award in early December. In addition, the airline has appointed Arab Bank, Calyon, Europe Arab Bank, ING Bank and Natixis Transport Finance as arrangers for the financing of one Boeing 777-200LR aircraft due to be delivered in Spring 2009.

This is the first transaction in which Arab Bank and its UK subsidiary, Europe Arab Bank have acted as Arranger for Qatar Airways.

Together, the transactions represent an innovative six-year, two tranche finance lease structure.  The financing has been underwritten and financed by a pool of eight banks: Arab Bank, Calyon, DekaBank, Europe Arab Bank, Fortis Bank, ING Bank, KfW IPEX-Bank GmbH, and Natixis Transport Finance.

The transactions were successfully closed at the peak of the financial crisis and utilised unique tailor-made solutions from the banks demonstrating once again their strong commitment to Qatar Airways.

Qatar Airways chief executive officer Akbar Al Baker said,  'In the current financial climate, banks are focusing their liquidity on the strongest airlines. I am very pleased that these banks continue to demonstrate their support for Qatar Airways.'

'Qatar Airways has built up a strong reputation in the international marketplace with a solid long-term growth strategy that can weather any crisis. Our commitment to provide the travelling public with greater choice through more frequency and more routes is unprecedented as we take delivery of brand new aircraft to help fulfill our targets.'

Natixis Transport Finance chief executive officer Christian McCormick said, 'We are proud to continue to support Qatar Airways' expansion during these difficult times for the banking community, and extremely delighted to have arranged the four very first Boeing aircraft of the airline's current fleet.'

Calyon's global head of Aviation, Jose Abramovici said: 'We were very pleased to provide Qatar Airways with innovative solutions. The structure was designed to attract asset players as well as banks which relied on creditworthiness of the airline.'

'We look forward to continuing our support to our customer during 2009,' he added.

Europe Arab Bank head of transport finance, Gilles Charmey expressed his delight at the deal, saying: 'It has been rewarding to work with such an important airline in the Middle East and provide the flexibility required for the airline's first Boeing 777-200LR.'-Tradearabia News Service