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Türkiye's flag carrier, Turkish Airlines, signed its first-ever financing agreement with Dubai Islamic Bank (DIB) on Monday for the acquisition of Airbus A350 aircraft.
The agreement was formalized during a ceremony at Turkish Airlines’ General Directorate VIP Lounge in Istanbul, attended by executives from both organizations.
Turkish Airlines Chairman of the Board and Executive Committee Professor Ahmet Bolat said the transaction represents a new direction in the airline’s financing policy, emphasizing both innovation and international cooperation.
“This transaction demonstrates our commitment to financial innovation and our determination to strengthen our fleet,” Bolat said.
“It also marks the beginning of a new phase in our cooperation with leading institutions in the UAE and the Gulf region.”
Bolat noted that Turkish Airlines is pleased to have completed the financing with DIB and plans to expand this collaboration going forward.
As part of Turkish Airlines’ broader strategy to diversify its funding base, the agreement introduces an Islamic lease structure denominated in Swiss francs (CHF).
According to the airline, this is the first time such a transaction has been included in its financing portfolio.
Following nearly a year of preparation, the deal incorporates a globally used Islamic financial leasing method. It is also the first aviation financing of its kind for DIB in Türkiye.
DIB Chief Executive Officer Dr. Adnan Chilwan said the agreement aligns with shared objectives and reflects the strength of cross-border partnerships.
“This partnership is a clear reflection of the power of aligned goals,” Chilwan said.
“Turkish Airlines, which holds the Guinness World Record for flying to the most countries, is a pioneer in terms of scale, vision, and global leadership.”
Chilwan added that this is the first time Turkish Airlines has opted for Islamic financing, which he described as “a key milestone” for the industry.
“This transaction not only supports the airline’s growth but also reinforces the increasing relevance of Islamic finance in global markets,” he said.
The agreement supports Turkish Airlines’ ongoing fleet expansion program, which includes the acquisition of new-generation wide-body aircraft.
By incorporating alternative financing models such as Islamic leasing, the airline continues to align its capital structure with international market practices while extending its reach into new financial networks.
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