Avolon funds A320 with NBAD debt

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Operating lessor Avolon Aerospace Leasing has closed financing of the first of two Airbus A320s.

Avolon funded the first delivery (MSN 5821) with a commercial loan facility from National Bank of Abu Dhabi (NBAD).

The second aircraft (MSN 5836), scheduled for delivery in December, will also be financed by the Middle East-based bank, says Avolon.

Both A320s are being acquired from Middle East carrier Etihad Airways under a purchase and leaseback transaction.