DIB executes first Islamic finance deal with Turkish Airlines
Marking the first Islamic aircraft finance deal to support the flag carrier's growth, this transaction paves the way for Shariah-compliant structures to serve as a catalyst for growth within one of the world's most prestigious airline fleets.
The deal represents a significant milestone in DIB's ongoing efforts to advance the global influence of Islamic finance.
The transaction marks Turkish Airlines' first-ever Islamic finance-backed aircraft financing, introducing Shariah-compliant structures into its funding portfolio as part of its broader diversification strategy. DIB acted as financier for the acquisition and induction of a new Airbus A350-941 into the Turkish Airlines fleet, with the transaction structured through a 12-year Islamic finance lease (Ijarah).
The event marked a key milestone in the partnership between DIB and Turkish Airlines, highlighting their shared commitment to innovation in ethical finance and paving the way for deeper collaboration across global markets.
Dr. Adnan Chilwan, Group Chief Executive Officer at DIB, commented: '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. We value this collaboration deeply. 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.'
Turkish Airlines Chairman of the Board and the Executive Committee, Prof. Ahmet Bolat stated: '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 UAE and the broader Gulf region. We are pleased to have completed this landmark financing in collaboration with DIB and look forward to building on this partnership in the future.'
This transaction further strengthens DIB's position as a global leader in cross-border Islamic finance, showcasing the growing demand for Shariah-compliant solutions in capital-intensive sectors such as aviation.
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