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Airbus, Jeddah bank launch Islamic aircraft leasing fund

[LONDON] Airbus Group and the Jeddah-based Islamic Development Bank (IDB) are seeding a syariah-compliant aircraft leasing fund to cater to growing demand for commercial financing from airlines in the Middle East, Asia and Africa.

The fund, which will exclusively finance Airbus aircraft, has a target size of US$5 billion and could help boost the European planemaker's edge against rival Boeing in the fast growing commercial airline market in the Gulf region.

The European planemaker developed the fund...

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