Gulf Air, the flag carrier of the Kingdom of Bahrain, has signed a $70 million facility with Bahrain Islamic Bank.

Under the arrangement, this four-year medium-term facility will be used to partly finance eight A320 aircrafts, which are expected to be delivered in the fourth quarter of this year and first quarter of next year.

The transaction legal counsels representing Bahrain Islamic Bank were Denton Wilde Sapte - Paul Jarvis and Sami Syadi, while Gulf Air has Linklaters, Hassan Radhi and Associates.