'Transaction shows our commitment to financial innovation and strengthening our fleet while also marking new chapter in our cooperation with leading institutions in the UAE and broader Gulf region,' says Turkish Airlines chair
Flag carrier Turkish Airlines on Monday signed a landmark finance deal with Dubai Islamic Bank (DIB) to purchase Airbus A350 airplanes.
Speaking at a ceremony at Turkish Airlines' headquarters in Istanbul, the airline's Chairman, Ahmet Bolat, said the financing method implemented in the agreement is a first.
“This transaction demonstrates our commitment to financial innovation and strengthening our fleet while also marking a new chapter in our cooperation with leading institutions in the United Arab Emirates and the broader Gulf region," he said.
"We are pleased to have completed this landmark financing in collaboration with DIB and look forward to building on this partnership in the future," he added.
Adnan Chilwan, group CEO at Dubai Islamic Bank, said: “At a time when global markets are rethinking the foundations of sustainable finance, this transaction sends a clear signal that Islamic finance is no longer a niche; it is a resilient and globally relevant financial structure for the future."
"For Turkish Airlines to embrace Shariah-compliant financing for the first time and to choose DIB as their Islamic finance provider reflects both the strength of our principles and the confidence they have placed in our capabilities," Chilwan said.
Stating that they value this collaboration deeply, Chilwan said it not only supports the airline’s strategic growth but also reinforces the strengthening of economic ties between the UAE and Türkiye.
"This relationship continues to thrive on a vision rooted in mutual respect, shared ambition, and enduring cooperation," he added.
- Islamic financial leasing transaction in Swiss francs
As part of Turkish Airlines' strategy to diversify its financing portfolio, an Islamic financial leasing transaction denominated in Swiss francs was signed with DIB, the world's first Islamic bank and the largest in the UAE.
The transaction, completed after approximately a year of preparation, aims to incorporate this financing method, actively used worldwide, into the flag carrier's financing portfolio.
