Istanbul: 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, stated that the financing method implemented in the agreement is a first.

According to Anadolu Agency, Bolat expressed that this transaction demonstrates the airline's commitment to financial innovation and strengthening its fleet. He emphasized that the deal marks a new chapter in cooperation with leading institutions in the United Arab Emirates and the broader Gulf region. Bolat further mentioned Turkish Airlines' satisfaction in completing this landmark financing in collaboration with DIB and expressed anticipation for future partnerships.

Adnan Chilwan, group CEO at Dubai Islamic Bank, highlighted the significance of the transaction amidst global shifts towards sustainable finance. He remarked that the deal signals that Islamic finance is a resilient and globally relevant financial structure. Chilwan noted that Turkish Airlines' choice of Shariah-compliant financing for the first time, with DIB as their provider, underscores the strength of Islamic finance principles and the confidence placed in DIB's capabilities.

Chilwan also commented on the deep value of this collaboration, stating that it supports Turkish Airlines' strategic growth and reinforces the strengthening of economic ties between the UAE and Trkiye. He added that the relationship thrives on mutual respect, shared ambition, and enduring cooperation.

As part of Turkish Airlines' strategy to diversify its financing portfolio, an Islamic financial leasing transaction denominated in Swiss francs was signed with DIB. Known as the world's first Islamic bank and the largest in the UAE, DIB facilitated this transaction after approximately a year of preparation. The aim is to incorporate this globally active financing method into the flag carrier's financing portfolio.