Dubai airline Emirates said on Thursday it had signed a USD$261 million financing agreement with the US Export-Import Bank for two Boeing 777-300ER aircraft.

The deal, arranged by Citigroup, is a 12-year supported loan with commercial funding and carries a weighted average cost of funds of 0.66 percent over three-month LIBOR (London Interbank Offered Rate), Emirates said in a statement.

The two planes are scheduled for delivery in August and October.

Emirates said its fleet consists of 94 wide-bodied aircraft from Boeing and Airbus.