Dubai: Turkish Airlines, the airline flying to more countries than any other, successfully executed an innovative financing transaction for an Airbus A350 aircraft. Marking a strategic milestone in the diversification of its funding portfolio, the national flag carrier completed the financing in Swiss francs (CHF) through an Islamic finance structure. The finance lease structured through an Ijarah arrangement, was signed with Dubai Islamic Bank (DIB), the world’s first Islamic bank and the largest in the United Arab Emirates.

Nearly a year in the making, this transaction is the result of close collaboration between Turkish Airlines and DIB, aimed at incorporating diverse, globally recognized financial instruments into the flag carrier’s funding strategy. To celebrate the successful closing, Turkish Airlines hosted a signing ceremony at its headquarters in Istanbul.

Commenting on the milestone deal, Turkish Airlines Chairman of the Board and the Executive Committee, Prof. Ahmet Bolat stated: “This transaction demonstrates our commitment to financial innovation and strengthening our fleet while also marking a new chapter in our cooperation with leading institutions in the UAE and the broader Gulf region. We are pleased to have completed this landmark financing in collaboration with DIB and look forward to building on this partnership in the future.”

Commenting on the transaction, Dr. Adnan Chilwan, DIB Group Chief Executive Officer stated: "The strength of any meaningful alliance lies in shared ambition, and this collaboration with Turkish Airlines is a clear reflection of that. As the Guinness World Record holder for 'Most Countries Flown to by an Airline', Turkish Airlines leads with scale, vision, and elite global leadership. The fact they chose Islamic finance for the first time in their history marks a significant milestone for our industry, one we are proud to help shape. This transaction not only supports the airline’s continued growth but also reinforces the growing relevance of Sharia-compliant finance across global markets. We are privileged to partner on this landmark development in the country’s aviation industry further cementing the deep economic ties between the UAE and Türkiye.”

Turkish Airlines remains committed to developing innovative, sustainable, and globally inclusive financing solutions to drive its strategic growth, while reinforcing its leadership in the global aviation industry. This successful transaction marked another milestone in Turkish Airlines’ broader strategy to diversify its funding sources which has been a tenet of the global airline, resulting in numerous finance awards over the years. This move is also aimed at strengthening relationships with institutions across the Gulf region and support its long-term fleet expansion targets by 2033, 100th anniversary of the flag carrier.

Turkish Airlines, Inc.
Media Relations

About Turkish Airlines:

Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 490 (passenger and cargo) aircraft flying to 353 worldwide destinations as 300 international and 53 domestics in 131 countries. More information about Turkish Airlines can be found on its official website www.turkishairlines.com or its social media accounts on Facebook, X, YouTube, LinkedIn and Instagram.

About DIB:

Established in 1975, DIB is the UAE’s largest Islamic bank by assets and the world’s first full-service Islamic financial institution. Listed on the Dubai Financial Market, DIB leads the global Islamic finance sector with over USD 95 billion in assets, a market capitalisation of more than USD 14 billion, and a network of around 500 branches across the Middle East, Asia, and Africa. Serving over 5 million customers, DIB offers a wide range of innovative, Shariah-compliant products and services.

With key international operations in Pakistan, Indonesia, Kenya, and Türkiye, and recognition as a Domestic Systemically Important Bank (D-SIB) in the UAE, DIB continues to expand its global presence. The bank’s acquisition of Noor Bank and its recent strategic investment in Türkiye’s T.O.M. Group reflect its commitment to shaping the future of ethical finance.

In 2025, DIB marks its 50th anniversary with a bold vision for the future—advancing Islamic finance as a mainstream choice while championing sustainability and innovation.

For more information, visit: www.dib.ae

About Star Alliance:

Established in 1997 as the first truly global airline alliance, the Star Alliance network was founded on a customer value proposition of global reach, worldwide recognition, and seamless service. Since its inception, it has offered the largest and most comprehensive airline network, with a strong emphasis on enhancing the customer experience throughout the entire Alliance journey.

The member airlines are: Aegean Airlines, Air Canada, Air China, Air India, Air New Zealand, ANA, Asiana Airlines, Austrian, Avianca, Brussels Airlines, Copa Airlines, Croatia Airlines, EGYPTAIR, Ethiopian Airlines, EVA Air, LOT Polish Airlines, Lufthansa, Shenzhen Airlines, Singapore Airlines, South African Airways, SWISS, TAP Air Portugal, THAI, Turkish Airlines, and United.

Overall, the Star Alliance network currently offers 17,837 daily flights to over 1,160 airports in 192 countries. Further connecting flights are offered by Star Alliance Connecting Partner Juneyao Airlines.

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