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UAE military’s $1.8 billion plane deal sealed

Abu Dhabi-based Waha Capital said that it..

January 5, 2010 5:54 by

Abu Dhabi-based Waha Capital said that it has finalized a $1.8 billion financing deal which will allow the UAE Armed Forces to buy nine military aircraft from Airbus and Boeing, reports Reuters. The deal will facilitate the military to buy three Airbus A-330-200s worth $1.2 billion and six Boeing C-17 planes worth $634 million, the company said, adding that the planes will be delivered over the next three years.

The deal is part of a bigger financing program for the UAE Armed Forces worth AED11 billion ($3 billion), which is expected to be completed during 2010, says Reuters.

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