Emirates Transport signs US$8.2 million agreement for 100 buses

The UAE’s Ajman Bank and Emirates Transport have signed a US$8.2 million (AED30 million) deal. Under the terms of this deal, the bank will buy a fleet of more than 100 buses to be sold on to Emirates Transport on a deferred payment basis.

According to BMI (Business Monitor International) the deal will enable Emirates Transport to add to its existing fleet and still avoid the burden of heavy financing required to purchase 100 of its bus units.

This will be helpful considering the anecdotal evidence from dealers, which suggests that vehicle loan rejection levels in the UAE are increasing. The same is likely to be true for businesses as well as private consumers.

Source: www.autoinsight.com