Emirates NBD Bank signed a financing agreement worth $350 million (AED 1.28 billion) with Emirates Airline for two Boeing 777-200LRF long-range cargo aircraft. This financing supports Emirates SkyCargo’s strategy to expand its fleet and strengthens Dubai and the UAE’s position as a global trade and logistics hub.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Aviation Authority and Chairman and CEO of Emirates Airline and Group, described the agreement as a milestone that opens broader horizons to support the future of the aviation and logistics sectors, enhances the UAE’s status as a global trade center, supports Dubai’s economic agenda D33, and confirms a commitment to sustainable growth that creates long-term value for the economy and society.

This deal represents the first dedicated mortgage-style financing partnership for cargo aircraft between Emirates NBD and Emirates Airline, secured after a competitive process. It also marks the first time Emirates uses a direct aircraft financing structure similar to a mortgage without the need to establish a traditional special purpose vehicle.

Ahmed Al Qassim, Head of Business Banking at Emirates NBD Group, emphasized the bank’s ongoing commitment to supporting key sectors that contribute to the UAE’s economic vision. Michael Dorsam, Chief Financial Officer and Group Services Head at Emirates Group, highlighted Emirates’ strong financing record and its focus on innovative long-term financing strategies, noting this deal as the first aircraft-backed financing with the bank.