Emirates Completes 12-Year Sharia-Compliant Lease Financing for Two A350-900 Aircraft

en.Wedoany.com Reported - On November 9, Emirates announced that it had completed a 12-year Sharia-compliant French tax lease financing transaction with Dubai Islamic Bank and the Corporate and Investment Banking division of Natixis of France, providing funding support for two Airbus A350-900 widebody aircraft introduced in 2026. The financing integrates the French aviation lease structure with Islamic finance rules within a single transaction arrangement, with the two banks jointly serving as Islamic financiers and arrangers. The two aircraft were delivered in the second and third quarters of 2026, and the financing transaction provides long-term funding support for the introduction of the relevant aircraft. The financing term is 12 years, covering the long-term asset financing arrangement for the two A350-900 aircraft.

The French Tax Lease structure adopted in this transaction is an arrangement in the field of aviation asset financing that combines aircraft asset leasing with mechanisms related to the French tax regime. Unlike French tax leases and Islamic financing, which are typically arranged separately, this transaction integrates the two financial frameworks by adjusting the lease and financing contract structures so that they simultaneously comply with the requirements of the relevant French lease regime and Sharia law.

Dubai Islamic Bank and the Corporate and Investment Banking division of Natixis jointly served as Islamic financiers and arrangers. Among them, Dubai Islamic Bank also undertook the Sharia-compliant structure design work, responsible for coordinating the requirements between the French lease structure and Islamic finance rules; Natixis participated in the lease arrangement, investment and Islamic financing. Natixis disclosed that the relevant structure design and coordination work lasted nearly one year.

The two aircraft were delivered to Emirates in the second and third quarters of 2026, respectively. The A350-900 belongs to the Airbus A350 widebody aircraft family, features a twin-engine design, and primarily serves medium- to long-haul and long-haul international routes. This financing was carried out for the two aircraft already delivered, with the focus on configuring long-term financing for the aircraft assets rather than placing new aircraft purchase orders.

Emirates has continued to expand its fleet in recent years and has supported new aircraft deliveries through multiple financing channels. In addition to traditional commercial loans and aircraft leasing, the company also uses Islamic financing, export credit support and other structured financing methods. According to the Emirates Group's 2025–2026 fiscal year annual report, the company arranged funding for 20 aircraft through different financing structures during the year, including two aircraft financed with export credit agency support, two aircraft paid for with internal cash, and other aircraft using insurance-backed financing, French tax leases and Japanese operating lease with call option financing methods.