Friday, 1 June 2018

Etihad seeks financial help for Dreamliner order

News from Abu Dhabi indicates that Etihad Airways is seeking to raise debt to help finance the airlines' deliveries of the aircraft it has on order from Boeing, said to be worth more than US$1 billion. According to the financial press, the airline sent requests for proposals to banks just under a month ago for secured funding for the delivery of a number of 787 Dreamliner aircraft. 

The UAE carrier has more than 50 of the 787 Dreamliner aircraft on order, split over 21 787-9s and 30 787-10 and according to the financial press it is also seeking finance for a 777 freighter it has on order from the US manufacturer. 

At the current time, it is not clear exactly how many aircraft it needs to find finance for, of if indeed they will cancel some aircraft from the Boeing order. The airline has been undergoing a strategic review recently which may indicate a need to reduce the number of new aircraft it has on order. 

It is being reported that Etihad is considering the future for the options it currently has on aircraft its has ordered from both Boeing and Airbus.  The review may see the airline delay delivery, change model types or even cancel some of the options as it seeks to reorganize itself. 

The American manufacturer sees the apparent financing request as a good sign that Etihad will stick to the Dreamliner type and is putting pressure on the gulf carrier to ditch its order for 62 Airbus A350 jets.