October 5, 2012
NBAD, Boeing sign financing agreement
The National Bank of Abu Dhabi (NBAD) and aircraft manufacturer Boeing have signed an agreement to develop aircraft financing and leasing opportunities of mutual benefit in the Middle East market. The memorandum of understanding effective immediately represents a landmark collaborative effort aimed at increasing investment opportunities for financial institutions in the UAE and the broader Middle East region involving large commercial aircraft. The two leading firms committed to work together to identify and pursue projects involving structuring and arranging financing and leasing of Boeing products and services to current and potential regional customers. Previously the two organizations have shared ideas to help stimulate the Middle East’s involvement in the considerable opportunities associated with commercial aircraft investment which, as an asset class, has outperformed other alternatives even through economic uncertainties.