BNP Paribas confirms Thai’s A380 ECA mandate

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

BNP Paribas has confirmed it has been mandated by Thai Airways International for the financing of one of the three Airbus A380 aircraft scheduled for delivery this year.

The French bank will arrange an European Export Credit Agencies (ECA) supported loan facility denominated in Japanese Yen. The aircraft is scheduled for delivery in September 2012.

The transaction marks the first time an A380 is financed in Japanese Yen currency.

Thai Airways announced earlier this week it received board approval for long-term financing proposals for the three A380s scheduled for this year.The airline is in process of obtaining loan guarantees for these aircraft from the ECAs.

The Star Alliance carrier appointed BNP Paribas in consortium with Sumitomo Mitsui Trust Bank for the financing of one aircraft. Thai also mandated Citibank along with Bayerische Landesbank and Natixis Transport Finance to provide funding for the other two A380 aircraft.

The carrier, which has firm orders for six aircraft, will become the ninth operator of the A380.