Financing of 6.7 billion Dhs for U.A.E Armed Forces

05.01.2010 UAE

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Waha Capital (PJSC) announced the closure of an AED 6.7 billion (USD 1.8 billion) military deal, to facilitate the U.A.E Armed Forces’ logistics, airlift and humanitarian aid programs through the purchase of transportation aircraft. 
Waha Capital has worked closely with local and international partners to bring this deal, the largest in Waha's history, to a close and facilitate the financing of the project.
Nine of the world’s largest and most modern aircraft will be delivered as part of the deal, including, three Airbus A330-200 multi-role and tanker transport aircraft have been acquired for AED 4.4 billion (USD 1.2 billion) as well as six Boeing C-17 A Globemaster III aircraft for AED 2.3 billion (USD 634 million).
The aircrafts are scheduled for delivery over the next three years, with four being handed over in 2011, and the rest in 2012.
H.E. Hussein Jassim Al Nowais, Chairman of Waha Capital, commented, “We are very pleased to be able to facilitate the expansion of the humanitarian and aid capabilities of the U.A.E Armed Forces.  The financial backing we have received from reputable international financial institutions, is testemony to the confidence of the international community in the strength of the U.A.E economy and financial credibility the Abu Dhabi Emirate.”
Closing a deal of this size, in a record time, in the current financial circumstances is a challenge that we met with strength, clearly reflecting the company’s investment strategy which follows the direction of HH. Sheikh Khalifa Bin Zayed Al Nahyan, President of the U.A.E and HH. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.


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