Doha, QATAR - Qatar Airways has entered into an agreement with Qatar Islamic Bank for the funding of its newest Airbus A340-600 aircraft, which is due to be delivered to the airline at the end of the month.
The agreement is Qatar Airways' first under Islamic principles and part of the airline's committed strategy to diversify its financing options as the company's fleet size grows.
The new aircraft will be Qatar Airways' fourth A340-600 and will be used to operate long-haul routes to Asia and North America. It has 266 seats in a three-class configuration of 8 First Class, 42 Business Class and 216 Economy Class. The aircraft features unique facilities such as a dedicated First Class lounge for passengers to unwind and relax.
Qatar Airways Chief Executive Officer Akbar Al Baker signed the agreement with his CEO counterpart at Qatar Islamic Bank, Salah Al Jaidah at the airline's headquarters in Doha.
"We are pleased to be introducing Qatar Islamic Bank to our group of relationship banks," said Al Baker.
"This is part of Qatar Airways' funding diversification plans and we hope the agreement we have entered into with Qatar Islamic Bank will be one of many to help drive forward Qatar Airways' business."
Salah Al Jaidah added: "The lease-to-own agreement signed between the two parties is the first step towards forging a long-standing strategic partnership with Qatar Airways."
Qatar Airways is a vibrant airline that is growing at an unprecedented rate, with its fleet, passengers and routes increasing in number year on year.
During the month of March alone, Qatar Airways takes delivery of four brand new Airbus aircraft - including its fourth long-range A340-600 - and launches three routes from Doha to Chennai, Denpasar in Bali and Vietnam's commercial centre of Ho Chi Minh City.
During the summer, Qatar Airways takes its first steps into the US market with flights to New York and Washington DC, together with Geneva and Stockholm following later this year.
About Qatar Airways
Qatar Airways, the national carrier of the State of Qatar, is proud to be Going Places Together with travellers across its more than 150 business and leisure destinations.
A multiple award-winning airline, Qatar Airways has been awarded World’s Best Airline, World's Best Business Class; Best Business Class Airline Lounge and Best Airline Staff Service in the Middle East by international air transport rating organisation Skytrax.
Qatar Airways was the first Gulf carrier to join global airline alliance, oneworld, enabling its passengers to benefit from more than 1,000 airports in more than 150 countries.
Oryx One, Qatar Airways’ in-flight entertainment system offers passengers up to 3,000 entertainment options from the latest blockbuster movies, TV box sets, music, games and much more. Passengers flying on Qatar Airways flights served by its B787, A350, A380, A319 and select A320 and A330 aircraft can also stay in touch with their friends and family around the world by using the award-winning airline’s on-board Wi-Fi and GSM service.
Qatar Airways proudly supports a range of exciting international and local initiatives dedicated to enriching the global community that it serves. Qatar Airways sponsors world-leading sports teams including FC Barcelona and Al-Ahli Saudi Arabia FC reflecting the values of sports as a means of bringing people together, something at the core of the airline’s own brand message – Going Places Together.
Qatar Airways Cargo, the world’s third largest international cargo carrier, serves more than 50 exclusive freighter destinations worldwide via its Doha hub and also delivers freight to more than 150 key business and leisure destinations globally