Libyan airlines take loans to expand Airbus fleets

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Two Libyan airlines signed for 1.1 billion dollars in loans from several local banks to buy Airbus planes ordered three years ago, officials said.

“A loan agreement was signed on Tuesday in Tripoli with seven local banks to finance part of the purchase of 11 Airbus” planes which were ordered in 2007, Mohammed al-Mashiki of Afriqiyah Airways told AFP.

The state-controlled airline had placed an order in 2007 to buy five Airbus A320s and six Airbus A350s to expand a fleet now comprising 11 Airbus passenger planes. The company took a loan of 500 million dollars.

Mashiki said he expected deliveries to begin before the end of the year.

State-owned Libyan Airlines also announced on Tuesday that it had taken out a 600-million-dollar loan to finance the purchase of four A350-800s, four A330-200s and seven Airbus A320s, the official JANA news agency reported.

Libyan Airlines has a fleet of 10 planes.



In May an Afriqiyah Airways crashed near the Libyan capital, Tripoli, killing 103 people. A nine-year-old boy was the only survivor.