Doha: For the first time in 28 years, Qatar Airways has signed a landmark agreement with leading local Qatari banks, led by Qatar National Bank (QNB), to secure QR4.5 billion in strategic financing.

According to Qatar News Agency, 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. The lending banks include Ahlibank, Commercial Bank, Doha Bank, Dukhan Bank, Qatar Islamic Bank (QIB), and Qatar International Islamic Bank (QIIB).

This new agreement will see an innovative approach whereby local banks lend in Qatari Riyals in both conventional and Islamic tranches. The commercial terms are in line with international benchmarks for a strategic financing transaction of this nature.

Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al Meer, stated that Qatar Airways' latest purpose-driven partnership demonstrates trust in the operational excellence of the Qatari banking sector. He emphasized the honor of collaborating with leading banks in Qatar and reaffirmed the airline's commitment to fulfilling the Qatar National Vision 2030.

QNB Group Chief Executive Officer, Abdulla Mubarak Al Khalifa, expressed pleasure in being selected by Qatar Airways for this prominent role. He noted that the appointment underscores QNB's expertise in structuring complex financing solutions and its commitment to supporting growth objectives aligned with the Qatar National Vision 2030.

As Qatar Airways continues its ambitious fleet and network growth strategy, it remains committed to supporting local institutions, enhancing economic development, and contributing to national prosperity. The agreement aims to stimulate greater collaboration between the aviation and banking sectors, paving the way for innovative financial structures tailored to the airline's evolving needs while promoting national economic resilience.