Qatar Airways has signed a landmark agreement with leading local Qatari banks, led by Qatar National Bank (QNB), to secure $1.24 billion (QR 4.5 billion) in strategic financing, marking its first such deal in 28 years.
According to a statement from Qatar Airways, the financing will be provided by domestic banks in Qatar. The syndication was fully underwritten and led by QNB Group as the sole and exclusive Book Runner, Global Coordinator, Initial Mandated Lead Arranger, and Structuring Bank, while the lending banks include Ahlibank, Commercial Bank, Doha Bank, Dukhan Bank, Qatar Islamic Bank (QIB), and Qatar International Islamic Bank (QIIB).
Badr Mohammed Al-Meer CEO – Qatar Airways Group
“Qatar Airways’ latest purpose-driven partnership demonstrates our trust in the operational excellence of the Qatari banking sector. We are honored to collaborate with the leading banks of Qatar as we continue to further our commitment to fulfilling the Qatar National Vision 2030. We thank the financial institutions that have played a vital role in shaping our journey, offering support that has helped us reach new milestones. We believe such strong and resilient partnerships remain essential for driving industry innovation and expanding global connectivity.”
This new agreement will see an innovative approach taken whereby local banks lend in Qatari Riyals in both conventional and Islamic tranches and commercial terms in line with international benchmarks for a strategic financing transaction of this nature.
QNB Group Chief Executive Officer, Abdulla Mubarak Al Khalifa, said that, “We are pleased to have been selected by Qatar Airways for this prominent role. This appointment underscores QNB’s expertise in structuring complex financing solutions and its commitment to supporting the growth objectives of our clients and supporting Qatar National Vision 2030.”
