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Boeing Signs Aircraft Finance Deal

Boeing (NYSE:BA) has inked an aircraft financing agreement with NBAD.

Boeing Signs Aircraft Finance Deal

Boeing (NYSE:BA) announced that it has signed an agreement with the National Bank of Abu Dhabi (NBAD) to develop aircraft financing and leasing opportunities of mutual benefit in the Middle East market.

The two leading firms are committed to work together to identify and pursue projects involving structuring and arranging financing and leasing of Boeing (NYSE:BA) products and services to current and potential regional customers.

Mike Cave, president of Boeing (NYSE:BA) Capital Corporation, the manufacturer’s financing and leasing unit, said that, “Boeing (NYSE:BA) has a long and valued relationship with the UAE, and NBAD has a talented team that leads in business innovation and is a trendsetting bank and aircraft lessor. Today’s agreement represents the next logical step for both of us in meeting the needs of the growing Middle East aviation market. Boeing (NYSE:BA)’s experience is that, for 2012, close to 60 percent of our deliveries in the Middle East have been paid for or financed by Middle Eastern sources. That’s a doubling over a year ago and a clear indication that the promise of aircraft investment opportunity that we have advocated is being realized here”.

Boeing Co. (NYSE:BA) shares are currently standing at 69.60.

Boeing Signs Aircraft Finance Deal
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Last Price: 69.60
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