Abu Dhabi’s Etihad sells 38 aircraft for $1 billion

Abu Dhabi’s Etihad sells 38 aircraft for $1 billion

Sharjah |. Ras Al Khaimah |. Abu Dhabi's Etihad sells 38 aircraft for $1 billion. Abu Dhabi's Etihad Airways has sold 38 aircraft worth $1 billion (Dh3.67 billion) to global investment firm KKR and aviation finance firm Altavair AirFinance.. Under the deal, 777-300ERs will be leased back to Etihad upon purchase in early 2020, while the A330s will be delivered over the next 22 months and placed on lease with other international operators for either passenger operations or converted as freighters.. "As Etihad moves into the third year of its transformation programme, we have partnered with KKR and Altavair AirFinance, allowing us to take a further positive step forward in the optimisation of our fleet.. The deal offers us flexibility while ensuring we stand by our sustainability targets, and maintain a fleet of the most fuel-efficient, technologically-advanced aircraft," an Etihad spokesperson said in a statement.. Tony Douglas, group CEO of Etihad Aviation Group, said the deal will ensure that the airline stands by its strategic and financial sustainability targets by replacing aircraft with the most technologically-advanced and fuel-efficient fleet types. ". The structure of the transaction also provides us with significant flexibility, meaning we are well placed to