Emirates raises $265m Islamic financing

14 September 2008

Dubai-based Emirates Airline has announced that it has raised $265m in Islamic financing for two new Boeing 777-300ER aircraft. The transaction involves long-term leases for a period of 12 years. Noor Islamic Bank arranged the Mandated Lead Arranger group comprising of Barclays Capital, CCB International Finance Limited, Noor Islamic Bank PJSC, SAMBA Financial Group and Standard Chartered Bank. The first of the two aircraft was delivered in May 2008 and the second on 28 August 2008.

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