Emirates NBD has finalized a $350 million aircraft financing agreement with Emirates Airline to fund the delivery of two Boeing 777-200LRF (Long Range Freighter) aircraft. The deal will support Emirates SkyCargo’s fleet expansion and growth plans, strengthening Dubai and the UAE’s role as a global hub for trade and logistics.
This marks Emirates NBD’s first dedicated freighter mortgage-style financing with Emirates, awarded after a competitive process. It also reflects a new approach for the airline, as this is the first time Emirates has used a direct mortgage-style aircraft financing structure without the traditional offshore Special Purpose Company (SPC) setup.
Ahmed Al Qassim, Group Head of Wholesale Banking at 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 at Emirates Group, added: Emirates has a strong track record in financing and access to a diverse range of funding options. This milestone transaction with Emirates NBD represents our first aircraft financing secured directly with the bank, and reflects our focus on adopting innovative and efficient financing strategies.
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