Qatar Islamic Bank has entered into an agreement to provide the funding for Qatar Airways’ new Airbus A340-600, to be delivered at the end of this month.
The lease-to-own agreement, for an undisclosed amount, is the airline’s first to be based on Islamic principles, and is part of its strategy to diversify its financing options.
Salah Al Jaidah, CEO of Qatar Islamic Bank, signed the agreement with Akbar Al Baker, CEO of Qatar Airways, at the airline’s headquarters in Doha.
Al Jaidah said: “The lease-to-own agreement signed between the two parties is the first step towards forging a long-standing strategic partnership with Qatar Airways.”
Al Baker added: “This is part of Qatar Airway’s funding diversification plans and we hope the agreement will be one of many to help drive forward Qatar Airways’ business.”
This will be Qatar Airways’ fourth Airbus A340-600. It seats 266 passengers and will be used to operate long-haul routes to Asia and North America.
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