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Arabia
Islamic-compliant financing for Airbus
2007-06-25
Arab airlines might end up being the only customers for the A380.
Kuwait's Islamic firm Investment Dar is in advanced talks with European plane maker Airbus to set up a joint venture to finance aircraft purchases, a newspaper said on Saturday. Kuwait's al-Rai newspaper said the joint venture would have a capital of 100 million dinars ($347.1 million), of which 50 % would be sold in a private placement. It did not disclose the source of the report.

Investment Dar could not be immediately reached for comment. A spokesman for EADS had no immediate comment. Investment Dar would own 30 %, while Airbus would get 20 % of the new firm, the paper said. The details of the deal would be announced next month, it said. The joint venture's business would be financing aircraft deals for governments or airlines compliant with Islamic law.

Shares of Investment Dar, which bought a stake in British luxury carmaker Aston Martin in March, closed 1.69 % higher.
Posted by:Steve White

#5  USN are you sure it was about the bonding? I know the composites can't be x-rayed for fatigue like metals can.
Posted by: Icerigger   2007-06-25 23:52  

#4  WTF is islamic-compliant financing? You either pay cash or pay interest--unless the loan is interest free.
Posted by: JohnQC   2007-06-25 14:50  

#3  Icerigger; Boeing has had its share of loose tails also; IIRC 767 went through an AD to verify torque on attachment bolts due to improperly set torque wrenches @ the factory. The Airbus that crashed in NYC after a tail loss was due to improper bonding between the composite parts and metal attachment flange.
bigger story is that Airbus is going to own part of the company that is buying its own product; that is a self defeating spiral....
just drive a stake through the A380 and end its misery ( but then we will need something else to make fun of)
Posted by: USN, Ret.   2007-06-25 14:45  

#2  Composite Airbus has a history of loosing tails, let em buy them.
Posted by: Icerigger   2007-06-25 07:36  

#1  Yeah, prolly hard to buy an A380 on credit when you won't pay interest.
Posted by: bigjim-ky   2007-06-25 07:23  

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