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Asian, Gulf banks fill gap in aircraft finance

European lenders cut their exposure to aviation sector after the debt crisis

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Funding sources: Emirates, which has the world's largest fleet of Airbus A380s, used bonds, operating leases, US export credit facilities and financing leases to raise US$5.5 billion in the current financial year. - PHOTO: BLOOMBERG

[DUBAI] Cash-rich Asian and Middle Eastern lenders are taking a larger share of the US$100 billion global aircraft financing market as Western rivals step back due to the liquidity crunch and stricter regulations, a top Airbus executive said.

European commercial banks, previously the

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