Etihad Airways is seeking finance assistance to take upcoming deliveries of Boeing aircraft on order worth more than $1 billion, Bloomberg reported citing banking sources.
Etihad, the flag carrier of the United Arab Emirates, has sent proposals to the banks a month ago, requesting a 12-year secured funding to take delivery of Boeing 787s aircraft and a Boeing 777 cargo aircraft.
Etihad, has 51 Boeing 787 aircraft on order, including 21 B787-9s and 30 B787-10 variant
The airline decline to comment on its debt financing aircraft. However, last month Reuters reported that Etihad could swap models or cancel some aircraft on order as part of its company-wide restructuring strategy that has been underway since 2016 when it lost nearly $2 billion. The company reported loses after some of its investments on foreign airlines failed, notably the collapse of Air Berlin.
Etihad also has 88 Airbus jets on order, including 62 A350s.