Airlines eye ECA backing for sukuk as Flydubai builds banking group

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Airlines eye ECA backing for sukuk as Flydubai builds banking group

UAE based low cost airline Flydubai is working with a group of banks on a sukuk deal, and several other airlines are considering sukuk sales with Export Credit Agency (ECA) backing, a senior debt banker told IFIS. But structuring ECA-backed sukuk involves extra layers of complexity that could exclude all but the most determined borrower.

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