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Qatar Airways Completes Pre-Delivery Financing For Two Airbus A380 Aircraft

Doha, Qatar : Qatar Airways, the Doha based national carrier of the State of Qatar, has signed a pre-delivery financing agreement with Qatar National Bank SAQ for two Airbus A380 'super jumbo' aircraft valued at approximately USD 120 million.

Qatar Airways is one of the world's fastest growing airlines, serving 48 destinations throughout Europe, Africa, the Middle East and Asia. The A380 will become Qatar Airways' flagship aircraft and will continue the airline's tradition of offering the ultimate cabin product to its customers. The A380 will enter service with Qatar Airways in early 2009 and will be deployed on long haul routes. The airline's excellent product and high efficiency using aircraft closely optimised to the market are expected to underpin its continued rapid growth.

Qatar National Bank is the leading provider of corporate and retail banking services in Qatar through its extensive domestic branch network and internationally through its branches in London and Paris. The Bank is a major provider of structured project and aircraft financings and is fully committed to support the development and growth of the country's national carrier.

Prime Aviation of London-Gatwick Airport advised Qatar Airways on the structuring of this transaction.

The Qatar Airways Group of Companies includes Qatar Airways, Qatar Duty Free, Qatar Aviation Catering Company, Qatar Aviation Services, Qatar Airways Holidays, the Qatar Distribution Company and United Media International.

Qatar Airways presently has a fleet of 29 Airbus aircraft that includes: five A330s, 12 A320s, nine A300s, one A300 cargo freighter, and two A319 Corporate Jetliners.

Three leased A320s will be retired from the Qatar Airways fleet during 2004.

Qatar Airways Corporate Communications
Tel: +974 4496956, Fax: +974 4620132
E-mail: qrmedia@qatarairways.com.qa

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