The Emirates NBD Bank has signed a financing agreement worth $350 million for two aircraft with Emirates Airlines.
According to a press release issued today, this financial facility supports the airline’s acquisition of two long-range Boeing 777-200LRF freighters and aligns with Emirates SkyCargo’s strategy to expand and grow its fleet, thereby enhancing Dubai and the UAE’s status as a global hub for trade and logistics services.
This transaction marks the first dedicated financing partnership for cargo planes between Emirates NBD Bank and Emirates Airlines, secured after a competitive process, and continues the long-standing collaboration between the two institutions.
For Emirates Airlines, this deal represents the first instance of utilizing a direct aircraft financing structure similar to a mortgage, eliminating the need to establish a traditional special purpose vehicle (SPV). This reflects the airline’s strategic shift toward adopting more flexible and streamlined financing methods.
Ahmad Qassim, Head of Business Banking at Emirates NBD Bank, noted that this significant financing for Emirates Airlines underscores the bank’s ongoing commitment to support key sectors that contribute to the UAE’s economic vision.
Michael Doursem, Chief Financial Officer at Emirates Group, emphasized that Emirates Airlines has a strong financing track record and access to a wide range of funding sources. He highlighted the airline’s focus on developing innovative methods for its long-term financing strategy, noting that this important deal with Emirates NBD Bank represents the airline’s first financing secured by an aircraft with the bank.