Turkish Airlines seals first-ever Islamic aircraft finance deal with DIB

Dubai: Turkish Airlines has for the first time secured an Islamic finance-backed aircraft deal, with DIB acting as financier.

The milestone agreement sees Türkiye’s national carrier acquire a new Airbus A350-941 through a 12-year Shariah-compliant lease structure (Ijarah), expanding both its fleet and funding toolkit.

The transaction marks a major step in Turkish Airlines’ efforts to diversify its financing methods and reflects growing interest in faith-based finance structures among global carriers.

For DIB, this also represents the first Islamic aircraft financing arrangement in Türkiye’s aviation history, and underscores the bank’s growing cross-border reach in capital-intensive sectors like aviation.

“This transaction demonstrates our commitment to financial innovation and strengthening our fleet,” said Prof. Ahmet Bolat, Chairman of the Board and Executive Committee at Turkish Airlines. “It also marks a new chapter in our cooperation with leading institutions in the UAE and the broader Gulf region.”

DIB, the UAE’s largest Islamic bank, said the deal reflects its mission to position Islamic finance as a “resilient and globally relevant” funding tool across international markets.

“This transaction sends a clear signal that Islamic finance is no longer niche,” said Dr. Chilwan. “For Turkish Airlines to embrace Shariah-compliant financing for the first time, and to choose DIB as their provider, reflects both the strength of our principles and the confidence placed in our capabilities.”

The move comes amid broader efforts by both the UAE and Türkiye to strengthen bilateral trade and investment flows, with aviation emerging as a key sector of collaboration.