Korean Air closes A380 financing

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Korean Air has closed financing on a new Airbus A380 with an export credit agency-guaranteed structure arranged by ING Bank.

The aircraft (MSN 128), which was delivered on 25 October, is the eight of a 10-aircraft order placed with Airbus in 2003.

The South Korean carrier approached the market asking for ECA-guaranteed and commercial loan proposals at the end of February. It mandated financing for a March delivery (MSN 126) on a commercial basis to a syndicate of Korean banks. The October delivery was mandated to ING with ECA financing.

According to Flightglobal's Ascend Online database, the remaining two aircraft are scheduled for May and June 2014.