The meeting to celebrate this agreement was hosted by Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, and featured George Haddad, CEO of HSBC Holdings.
Attendees included Samir Assaf, Chairman of HSBC Middle East Holdings for the MENA region and Turkey; Abdul Fattah Sharf, Chairman of HSBC Bank Middle East; and Saleem Kervin, CEO of HSBC Bank in the MENA region and Turkey, along with Mohamed Marzooki, CEO of HSBC in the UAE, and Sheikha Al Marri, Head of Banking Services at the bank in the UAE. From Emirates Group, Michael Dorsam, Chief Financial Officer, was also present.
This deal offers competitive pricing and efficient terms, allowing Emirates to diversify its funding sources and liquid cash base beyond traditional financing methods.
Mohamed Marzooki stated, “For the past forty years, HSBC has supported Emirates Airline from its first aircraft to its current prominent position among the major global carriers.”
The financing agreement reinforces the strong relationship between the two entities and our shared confidence in the importance of the aviation sector in the UAE.
As we approach our 80th anniversary in the UAE next year, we reaffirm our commitment to connecting leading local enterprises like Emirates with global capital and opportunities.
The Airbus A350-900 is set to enter service with Emirates in November 2024.
Over the past four decades, HSBC and Emirates have collaborated on numerous pioneering projects, including arranging the first sukuk deal backed by an export credit agency, which was, at the time, considered the largest bond issuance in capital markets supported by an export credit agency in the aviation sector.