Turkish Airlines has opted to use an Islamic financing transaction for the first time, in order to fund the acquisition of an Airbus A350.
The carrier says the aircraft’s financing has been structured in Swiss francs with Dubai Islamic Bank, through an Ijarah arrangement – similar to a finance lease.
“This transaction demonstrates our commitment to financial innovation and strengthening our fleet,” says Turkish Airlines chair Ahmet Bolat.
He adds that it diversifies the funding portfolio and represents a “new chapter” of co-operation with United Arab Emirates and Gulf institutions.
Turkish Airlines has 110 A350s on direct order with Airbus, including 90 A350-900s, 15 A350-1000s and five A350Fs.
It says the Islamic transaction took nearly a year to arrange.
“This transaction not only supports the airline’s continued growth but also reinforces the growing relevance of Sharia-compliant finance across global markets,” states Dubai Islamic Bank group chief Adnan Chilwan.
Source link
Turkish Airlines has opted to use an Islamic financing transaction for the first time, in order to fund the acquisition of an Airbus A350.
The carrier says the aircraft’s financing has been structured in Swiss francs with Dubai Islamic Bank, through an Ijarah arrangement – similar to a finance lease.
“This transaction demonstrates our commitment to financial innovation and strengthening our fleet,” says Turkish Airlines chair Ahmet Bolat.
He adds that it diversifies the funding portfolio and represents a “new chapter” of co-operation with United Arab Emirates and Gulf institutions.
Turkish Airlines has 110 A350s on direct order with Airbus, including 90 A350-900s, 15 A350-1000s and five A350Fs.
It says the Islamic transaction took nearly a year to arrange.
“This transaction not only supports the airline’s continued growth but also reinforces the growing relevance of Sharia-compliant finance across global markets,” states Dubai Islamic Bank group chief Adnan Chilwan.
Source link
Share This:
admin
Plan the perfect NYC Memorial Day weekend
Pack only what you need and avoid overpacking to streamline the check-in and security screening…
LA’s worst traffic areas and how to avoid them
Consider using alternative routes, such as Sepulveda Boulevard, which runs parallel to the 405 in…
Sweden signs for four C-390 transports, as Embraer eyes further European customers
Sweden has formally signed for a future fleet of four Embraer C-390 tactical transports, with…
Greece’s Aegean commits to more ATRs for Olympic Air
Greek carrier Aegean has ordered a further two ATR 72-600 turboprops, as its Olympic Air…
Bulgaria’s GullivAir seeks year-round clearance to serve New York for Israel’s Arkia
Bulgarian wet-lease carrier GullivAir is seeking a year-long clearance to operate an Airbus A330-200 on…
Spanish operator Swiftair Group acquired by infrastructure fund
Spanish air cargo and wet-lease specialist Swiftair Group is being acquired by a financial fund…
Honeywell opens F124 engine MRO facility Madrid with ITP Aero for M-346 trainer support
Honeywell says a newly opened MRO facility in Madrid for the F124 engine that powers…
UK Royal Navy clears Wildcat helicopter’s MBDA Sea Venom anti-ship missile for frontline use
MBDA’s Sea Venom anti-ship missile has been declared ready for frontline use with the Royal…
France orders five more Dassault Aviation Falcon 2000LXS-based Albatros maritime surveillance jets
Paris has signed a follow-on order to provide the French navy with a maritime surveillance…
Icelandair recruits Play founder as it rejigs operations roles
Icelandair is rejigging its structure of operational roles, and has recruited one of the founders…
Polish air force pilots demo Boeing F-15EX Eagle II fighter with evaluation flights in Missouri
Officers from the Polish air force visited Boeing’s fighter delivery centre in the USA to…
Sokol plant initiates duplicate assembly line for MC-21 aft fuselage section
Assembly of aft fuselage sections of the Yakovlev MC-21-310 has commenced at the Sokol plant…