Emirates NBD has entered into a US$350 million aircraft financing agreement with Emirates Airline to support the delivery of two Boeing 777-200LRF (Long Range Freighter) aircraft. The deal strengthens Emirates SkyCargo’s fleet expansion and growth strategy, reinforcing Dubai and the UAE’s role as a global hub for trade and logistics.
This transaction marks Emirates NBD’s first dedicated freighter mortgage-style financing partnership with Emirates, secured following a competitive process, and builds on the longstanding collaboration between the two organisations.
For Emirates, the deal is notable as the first direct mortgage-style aircraft financing structure without relying on a traditional offshore Special Purpose Company (SPC), reflecting the airline’s strategic move toward more streamlined financing solutions.
Ahmed Al Qassim, Group Head of Wholesale Banking, Emirates NBD, said, “This landmark financing for Emirates Airline demonstrates Emirates NBD’s continued commitment to supporting the core sectors that drive the UAE’s economic vision.”
Michael Doersam, Chief Financial & Group Services Officer, Emirates Group, said, “Emirates has a robust financing track record and proven ability to access a wide range of funding avenues, and we are committed to developing innovative approaches to our long-term financing strategy. This milestone transaction with Emirates NBD represents our first financing secured against an aircraft with the bank.”
(Inputs from WAM)
