Emirates taps NBD to finance two new freighter planes: Emirates NBD has inked a USD 350 mn financing agreement with Dubai-based airline Emirates for two Boeing 777-200 long-range freighter aircraft, according to a statement published on Thursday. The mortgage-style facility will support the jets’ delivery and Emirates’ broader plans to expand its SkyCargo arm.

A landmark agreement: The facility marks a milestone for NBD — marking the bank’s first aircraft-dedicated funding partnership. For Emirates, this will be the carrier's first time opting for a direct, mortgage-style financing structure, barring a traditional offshore special purpose company setup.

On a cargo expansion spree: Emirates ordered five additional Boeing 777 freighters back in October last year — originally slated for a 2025-2026 delivery — bringing its total freighter orderbook to 21. Emirates Skycargo is set to double its existing fleet of 11 units to 21 production-built Boeing 777s by December 2026.

REMEMBER- The airline is coping with industry-wide supply chain disruptions, pivoting to a USD 5 bn retrofitting plan aimed at extending the operational life of existing jets as it waits for delayed deliveries.

This isn’t Emirates’ first rodeo with banks. Emirates tapped HSBC back in March as its sole senior arranger and original lender to finance the purchase of four more Airbus A350-900 jets — marking the airline’s return to the Japanese operating lease with call option (Jolco) market.

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