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Etihad seeking $2.6b in loans

|By Arabian Post Staff|  Etihad Airways is in talks with banks to raise about $2.6 billion in loans to finance aircraft deliveries, Bloomberg reports quoting sources.

The agency said the airline is seeking to raise $2 billion in 12-year loans for 10 Boeing Co. Dreamliner aircraft and about $600 million in financing for two Airbus Group SE A380 superjumbos.

Bloomberg said low-cost carrier FlyDubai is also in early talks with Emirates NBD PJSC, Noor Bank PJSC and Union National Bank PJSC for a club loan. FlyDubai is due to move all of its operations to Al Maktoum airport this year.

Etihad last month said it will eliminate jobs across several units as part of an organizational review and restructuring after almost tripling its staff to 20,292 in the past eight years, as its fleet expanded to 122 aircraft from 42.-With Bloomberg