Qatar Airways Enters a New Era of Financing with Landmark Agreement with Leading Banks

Qatar Airways Enters a New Era of Financing

In a historic move, Qatar Airways has signed a landmark agreement with the QNB Group and several prominent local Qatari banks, marking the first major financing collaboration in 28 years. This innovative transaction aims to provide Qatar Airways with a strategic financing package worth 4.5 billion Qatari Riyals (QAR), reaffirming the airline's commitment to support Qatar's National Vision 2030.

A Step Towards National Growth

The financing will be exclusively secured through domestic banks, with QNB Group taking the lead as the sole bookrunner, global coordinator, and structuring bank. Partnering institutions include Ahlibank, Commercial Bank, Doha Bank, Dukhan Bank, Qatar Islamic Bank (QIB), and Qatar International Islamic Bank (QIIB). This collaborative effort underscores Qatar Airways' commitment to developing local banking sectors and bolstering the national economy.

This agreement introduces an innovative approach where local banks will extend financing in Qatari Riyals, offering both conventional and Islamic banking options. The financing conditions align with international benchmarks, creating an attractive avenue for strategic funding tailored to the evolving needs of Qatar Airways.

Leadership Insights

Engr. Badr Mohammed Al-Meer, Chief Executive of Qatar Airways Group, emphasized the significance of this agreement, stating, "The recent focused partnership with Qatar Airways demonstrates our confidence in the operational excellence of Qatar's banking sector. We are proud to collaborate with the leading banks in Qatar to further our commitment to achieving the national vision for 2030. We are grateful to the financial institutions that have played a crucial role in helping us reach new milestones. Strong and resilient partnerships like this are essential for driving industry innovation and expanding global connectivity."

Abdulla Mubarak Al-Khalifa, Chief Executive of QNB Group, echoed these sentiments, adding, "We are thrilled to be selected by Qatar Airways for this critical task. This appointment highlights QNB's expertise in structuring complex financing solutions and its commitment to supporting our clients' growth objectives and Qatar's National Vision 2030."

Advancing Connectivity and Economic Development

Qatar Airways continues to pursue an ambitious strategy for fleet and network expansion while remaining committed to supporting local institutions and contributing to national prosperity. This agreement encourages closer collaboration between the aviation and banking sectors, paving the way for innovative financing structures that cater to the airline's unique requirements while promoting national economic resilience.

Qatar Airways' Renowned Legacy

Qatar Airways is internationally recognized for its excellent service, having been awarded the title of "World's Best Airline" at the 2024 World Airline Awards by Skytrax, marking its eighth win in this category. The airline is acclaimed for its business class offerings and has been pioneering in the realm of digital innovation. Currently, Qatar Airways operates flights to over 170 destinations worldwide from its hub in Doha's Hamad International Airport, which has been consistently ranked as the best airport in the Middle East.

In conclusion, the strategic financing agreement between Qatar Airways and QNB Group, along with local banks, highlights a pivotal moment for both the airline and the broader Qatari economy. By fostering strong partnerships and innovative financing solutions, Qatar Airways is set to continue its growth trajectory while contributing to the country's ambitious vision for the future.

About Qatar Airways and QNB Group

Qatar Airways has consistently set benchmarks in the airline industry and remains a strong advocate for the advancement of local and global connectivity. The QNB Group, recognized as one of the leading financial institutions in the Middle East and Africa region, offers comprehensive products and services across more than 28 countries, further affirming its commitment to innovative banking solutions.

This partnership is indeed a promising development for Qatar's aviation and banking sectors as they work together towards a prosperous future.