Emirates NBD has signed a landmark US$350 million aircraft financing agreement with Emirates Airlines to support the delivery of two Boeing 777-200LRF freighters. The facility will reinforce Emirates SkyCargo’s fleet expansion, further strengthening Dubai’s role as a global trade and logistics hub.
A First-of-its-Kind Deal
The transaction marks Emirates NBD’s first dedicated freighter mortgage-style financing with the airline, secured after a competitive process. For Emirates, it is also the first time adopting a direct mortgage-style aircraft financing structure without relying on a traditional offshore Special Purpose Company (SPC). The move signals a strategic shift toward more streamlined, efficient financing models.
Strengthening Partnerships
The deal builds on the long-standing relationship between Emirates NBD and Emirates Airlines. By directly securing aircraft against financing, the arrangement reflects both organizations’ commitment to innovation in aviation finance while supporting the UAE’s wider economic vision.
Leadership Perspectives
- Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said the transaction underscores the bank’s dedication to supporting core sectors driving the UAE’s economy, including aviation and logistics.
- Michael Doersam, Chief Financial & Group Services Officer at Emirates Group, emphasized the airline’s robust financing track record and its strategy to diversify funding sources, noting that this is the first Emirates aircraft financing secured directly with Emirates NBD.
Strategic Significance
The financing deal comes as Emirates SkyCargo continues to expand capacity to meet rising global demand for cargo and express logistics. With Dubai positioned at the crossroads of global trade routes, the addition of new Boeing 777 freighters is expected to boost the UAE’s connectivity and competitiveness in the fast-growing logistics sector.
–Input WAM
