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Emirates Secures US$ 239.00 Million Financing for two 777-200LRs

Emirates Secures US$ 239.00 Million Financing for two 777-200LRs (Forimmediaterelease.net) Emirates, the Dubai-based international airline, has successfully raised US$239 million financing with the support of the Export-Import Bank (Ex-Im) of the United States for two Boeing 777-200LR aircraft, delivered in August and September this year.

Powered by General Electric GE90 series engines, these two aircraft form part of the ten Boeing 777-200LRs which Emirates has on firm order.

The 12-year financing was arranged and funded by BNP Paribas and its leasing subsidiary Capstar Partners. This is the first time that Emirates has used a French export lease structure for its aircraft financing, and also the first time a French lease has been combined with debt supported by the US Ex-Im Bank for a passenger aircraft.

Brian Jeffery, Emirates’ Senior Vice President Corporate Treasury said: “These innovative leases provide very competitively priced financing for Emirates, and they provide us with ample flexibility. We are appreciative of the support of both BNP Paribas, which is one of the world’s leading financiers of aircraft, and of the U.S. Ex-Im bank, with whom our relationship is expanding rapidly as part of our aim to finance a number of future Boeing deliveries."

Emirates currently has 46 Boeing 777s on firm order comprising – eight 777-200LRs, eight 777 freighters and 30 777-300ERs.

With its new 777-200LRs, the world’s longest-range aircraft in commercial service, Emirates introduced services to Sao Paulo in Brazil on 1st October, marking the first ever non-stop flight between the Middle East and South America.

Independent and financially self-sustained, Emirates is one of the world’s most successful international airlines. From its Dubai hub, Emirates operates an all wide-bodied fleet of 110 aircraft to 94 destinations in 60 countries. This year it has launched services to Venice, Newcastle and Sao Paulo, and will soon add Toronto, Ahmedabad and Houston to its global network.

Photocaption: Emirates secures US$239 million financing for two Boeing 777-200LR aircraft. Signing the agreement in Dubai are: Eric Eugene, Global Head of Transportation at BNP Paribas / Capstar Partners; Philippe Lombard, Head of BNP Paribas / Capstar Partners; Nigel Hopkins, Emirates' Executive Vice President-Service Departments; Brian Jeffery, Emirates' Senior Vice President Corporate Treasury; and Jean Christophe Durand, Head of Gulf Territory, BNP Paribas / Capstar Partners.

Media contact: Valerie Tan, Emirates Corporate Communications DID: +9714-2032142; Fax: +9714-2950758 email: valerie.tan@emirates.com; www.ekgroup.com/mediacentre

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