Latest news with #TurkishAirlines
Hi Dubai
5 hours ago
- Business
- Hi Dubai
Turkish Airlines Completes a Landmark Deal for its Airbus A350 Financing with DIB
Turkish Airlines, the airline flying to more countries than any other, successfully executed an innovative financing transaction for an Airbus A350 aircraft. Marking a strategic milestone in the diversification of its funding portfolio, the national flag carrier completed the financing in Swiss francs (CHF) through an Islamic finance structure. The finance lease structured through an Ijarah arrangement, was signed with Dubai Islamic Bank (DIB), the world's first Islamic bank and the largest in the United Arab Emirates. Nearly a year in the making, this transaction is the result of close collaboration between Turkish Airlines and DIB, aimed at incorporating diverse, globally recognized financial instruments into the flag carrier's funding strategy. To celebrate the successful closing, Turkish Airlines hosted a signing ceremony at its headquarters in Istanbul. Commenting on the milestone deal, 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. Commenting on the transaction, Dr. Adnan Chilwan, DIB Group Chief Executive Officer stated: The strength of any meaningful alliance lies in shared ambition, and this collaboration with Turkish Airlines is a clear reflection of that. As the Guinness World Record holder for 'Most Countries Flown to by an Airline', Turkish Airlines leads with scale, vision, and elite global leadership. The fact they chose Islamic finance for the first time in their history marks a significant milestone for our industry, one we are proud to help shape. This transaction not only supports the airline's continued growth but also reinforces the growing relevance of Sharia-compliant finance across global markets. We are privileged to partner on this landmark development in the country's aviation industry further cementing the deep economic ties between the UAE and Türkiye. Turkish Airlines remains committed to developing innovative, sustainable, and globally inclusive financing solutions to drive its strategic growth, while reinforcing its leadership in the global aviation industry. This successful transaction marked another milestone in Turkish Airlines' broader strategy to diversify its funding sources which has been a tenet of the global airline, resulting in numerous finance awards over the years. This move is also aimed at strengthening relationships with institutions across the Gulf region and support its long-term fleet expansion targets by 2033, 100th anniversary of the flag carrier. Source: Memac Ogilvy
Zawya
7 hours ago
- Business
- Zawya
Turkish Airlines completes a landmark deal for its Airbus A350 financing with DIB
Dubai: Turkish Airlines, the airline flying to more countries than any other, successfully executed an innovative financing transaction for an Airbus A350 aircraft. Marking a strategic milestone in the diversification of its funding portfolio, the national flag carrier completed the financing in Swiss francs (CHF) through an Islamic finance structure. The finance lease structured through an Ijarah arrangement, was signed with Dubai Islamic Bank (DIB), the world's first Islamic bank and the largest in the United Arab Emirates. Nearly a year in the making, this transaction is the result of close collaboration between Turkish Airlines and DIB, aimed at incorporating diverse, globally recognized financial instruments into the flag carrier's funding strategy. To celebrate the successful closing, Turkish Airlines hosted a signing ceremony at its headquarters in Istanbul. Commenting on the milestone deal, 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. ' Commenting on the transaction, Dr. Adnan Chilwan, DIB Group Chief Executive Officer stated: " The strength of any meaningful alliance lies in shared ambition, and this collaboration with Turkish Airlines is a clear reflection of that. As the Guinness World Record holder for 'Most Countries Flown to by an Airline', Turkish Airlines leads with scale, vision, and elite global leadership. The fact they chose Islamic finance for the first time in their history marks a significant milestone for our industry, one we are proud to help shape. This transaction not only supports the airline's continued growth but also reinforces the growing relevance of Sharia-compliant finance across global markets. We are privileged to partner on this landmark development in the country's aviation industry further cementing the deep economic ties between the UAE and Türkiye. ' Turkish Airlines remains committed to developing innovative, sustainable, and globally inclusive financing solutions to drive its strategic growth, while reinforcing its leadership in the global aviation industry. This successful transaction marked another milestone in Turkish Airlines' broader strategy to diversify its funding sources which has been a tenet of the global airline, resulting in numerous finance awards over the years. This move is also aimed at strengthening relationships with institutions across the Gulf region and support its long-term fleet expansion targets by 2033, 100th anniversary of the flag carrier. Turkish Airlines, Inc. Media Relations About Turkish Airlines: Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 490 (passenger and cargo) aircraft flying to 353 worldwide destinations as 300 international and 53 domestics in 131 countries. More information about Turkish Airlines can be found on its official website or its social media accounts on Facebook, X, YouTube, LinkedIn and Instagram. About DIB: Established in 1975, DIB is the UAE's largest Islamic bank by assets and the world's first full-service Islamic financial institution. Listed on the Dubai Financial Market, DIB leads the global Islamic finance sector with over USD 95 billion in assets, a market capitalisation of more than USD 14 billion, and a network of around 500 branches across the Middle East, Asia, and Africa. Serving over 5 million customers, DIB offers a wide range of innovative, Shariah-compliant products and services. With key international operations in Pakistan, Indonesia, Kenya, and Türkiye, and recognition as a Domestic Systemically Important Bank (D-SIB) in the UAE, DIB continues to expand its global presence. The bank's acquisition of Noor Bank and its recent strategic investment in Türkiye's T.O.M. Group reflect its commitment to shaping the future of ethical finance. In 2025, DIB marks its 50th anniversary with a bold vision for the future—advancing Islamic finance as a mainstream choice while championing sustainability and innovation. For more information, visit: About Star Alliance: Established in 1997 as the first truly global airline alliance, the Star Alliance network was founded on a customer value proposition of global reach, worldwide recognition, and seamless service. Since its inception, it has offered the largest and most comprehensive airline network, with a strong emphasis on enhancing the customer experience throughout the entire Alliance journey. The member airlines are: Aegean Airlines, Air Canada, Air China, Air India, Air New Zealand, ANA, Asiana Airlines, Austrian, Avianca, Brussels Airlines, Copa Airlines, Croatia Airlines, EGYPTAIR, Ethiopian Airlines, EVA Air, LOT Polish Airlines, Lufthansa, Shenzhen Airlines, Singapore Airlines, South African Airways, SWISS, TAP Air Portugal, THAI, Turkish Airlines, and United. Overall, the Star Alliance network currently offers 17,837 daily flights to over 1,160 airports in 192 countries. Further connecting flights are offered by Star Alliance Connecting Partner Juneyao Airlines.
Time of India
8 hours ago
- Automotive
- Time of India
Watch: Smoke triggers emergency evacuation on Turkish Airlines flight after landing in Antalya
Synopsis A Turkish Airlines Boeing 777 was evacuated at Antalya Airport after smoke was seen coming from its landing gear while taxiing. The aircraft had arrived from Istanbul and was moving on the runway when the issue was spotted by air traffic control. All passengers were safely evacuated using emergency slides. No injuries were reported. Initial inspections suggest a faulty hydraulic pipe was to blame. A full technical assessment is now underway to determine the root cause.
Time of India
11 hours ago
- General
- Time of India
Panic at Turkish Airport: Boeing 777 passengers evacuate via emergency slides after smoke detected — Watch
A Boeing 777 operated by Turkish Airlines was forced to evacuate using emergency slides at Antalya airport in southern Turkey on Tuesday after smoke was detected in the landing gear. All passengers were safely evacuated with no reported injuries. The aircraft, which had arrived from Istanbul, was moving on the runway when smoke was spotted. The airline's spokesperson, Yahya Ustun, stated on X that emergency teams advised evacuation as a safety measure. The number of passengers and crew members involved was not immediately disclosed. According to Ustun, preliminary examination revealed that a faulty hydraulic pipe caused the smoke. The aircraft was undergoing technical assessment to determine the exact cause of the malfunction. "Smoke was observed emanating from the landing gear during taxiing, which was noticed by the air traffic controller and reported to the pilot," stated Enes Çakmak, who leads Turkey's General Directorate of State Airports Authority, in a translated X post. He continued: "Subsequently, swift coordination was established between the control tower and ARFF (Aircraft Rescue and Fire Fighting) units, and our teams promptly arrived at the scene." Çakmak shared footage on X showing emergency crews dousing the landing gear with water. Additional images show the deployed emergency slides, whilst another recording captures the aircraft being safely towed post-inspection. This incident follows another recent event where an American Airlines aircraft caught fire due to landing gear complications.
Mid East Info
16 hours ago
- Business
- Mid East Info
DIB Executes the First Islamic Finance Deal with Turkish Airlines - Middle East Business News and Information
This pioneering aviation financing by the UAE's largest Islamic bank marks the first in Turkish aviation history Dubai, UAE: DIB, the world's first Islamic bank and the largest in the UAE, has successfully executed a landmark aircraft financing transaction with Turkish Airlines, the national flag carrier of Türkiye. 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. By enabling one of the world's leading airlines to adopt a fully Shariah-compliant financing structure, DIB reaffirms the strength, credibility, and adaptability of Islamic finance in delivering complex cross-border funding structures. 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. A high-level signing ceremony was recently held in Istanbul, in the presence of Dr. Adnan Chilwan, Group Chief Executive Officer of DIB, Turkish Airlines Chairman of the Board and the Executive Committee Prof. Ahmet Bolat, and Turkish Airlines Chief Financial Officer and Member of the Board and the Executive Committee, Assoc. Prof. Murat Şeker, alongside other senior executives from both organisations. 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.' Commenting on the milestone transaction, 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. It reflects DIB's continued focus on delivering innovative structures that not only meet financial objectives that uphold ethical and faith-based finance standards across markets.
