Turkish Airlines inks landmark finance deal to acquire Airbus A350s
ISTANBUL
Flag carrier Turkish Airlines on July 28 signed a landmark finance deal with Dubai Islamic Bank (DIB) to purchase Airbus A350 airplanes.
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.
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.
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."
Meanwhile, the flag carrier announced on July 28 that flights from Istanbul to Aleppo, Syria’s second-biggest city by population, will resume as of Aug. 1.
Daily service will be offered on the Istanbul-Aleppo route.
Special round-trip tickets for the line's reopening will be available for purchase starting at $299.
Since the end of Syria’s Assad regime last December, more and more flight routes between Türkiye and Syria have been restored.
