Emirates NBD has entered into a $350 million aircraft financing agreement with Emirates Airline to support the delivery of two Boeing 777-200LRF freighter aircraft. The deal aims to expand Emirates SkyCargo’s fleet and is expected to enhance Dubai and the UAE’s role as a global trade and logistics hub.
This transaction is the first time Emirates NBD has provided dedicated mortgage-style financing for freighter aircraft to Emirates Airline. The agreement follows a competitive process and builds on the existing partnership between the two organizations. It also highlights Emirates NBD’s expertise in aviation sector financing and its commitment to supporting national economic diversification strategies.
The financing arrangement represents a shift for Emirates, as it marks the airline’s first use of direct, mortgage-style aircraft financing without relying on an offshore Special Purpose Company (SPC). This approach is intended to streamline operations and reduce costs while maintaining control over the assets.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, stated: “This landmark financing for Emirates Airline demonstrates Emirates NBD’s continued commitment to supporting the core sectors that drive the UAE’s economic vision. Our long-standing partnership with Emirates Airline, a key industry leader, is the result of our specialised capabilities in delivering flexible aviation finance solutions to our clients. We are pleased to close this transaction while contributing to the UAE’s growing standing as a global trade and logistics hub.”
Michael Doersam, Chief Financial & Group Services Officer at Emirates Group, commented: “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, building on our established relationship and demonstrating confidence in our solid financial performance and profitable business model. This streamlined, cost-efficient solution provides greater operational control throughout the financing term, and our partnership with Emirates NBD establishes a precedent for future collaborations while demonstrating how bespoke financing solutions can effectively support our fleet expansion. It also supports D33’s vision by strengthening and scaling up the airline’s capacity and connectivity to further optimise trade flows, consolidating Dubai’s competitive advantage on the world stage.”
The new agreement is part of broader efforts by both organizations to strengthen critical infrastructure in the UAE and support increased trade across Asia, Europe, Africa, and the Americas through Dubai’s air corridors.
