Turkish Airlines mulls options for $500m plane finance
Turkish Airlines hopes to raise $500m to buy new airplanes in 2014 and is weighing up its financing options. The company is in talks with banks about a leasing arrangement using enhanced equipment trust certificates (EETCs), but could potentially follow this up with issuance of sukuk or Eurobonds.
EETCs are a form of hire purchase, through which the Turkish Airlines would own the planes upon the maturity of the certificates. It would be the first time the company has used this method of funding.
A foray into the Islamic bond market would also be a first
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