EUR
enTurkish Airlines became the first company to finance aircraft in Chinese yuan
Turkish Airlines (THY) became the first airline outside the People’s Republic of China to finance aircraft in Chinese yuan. Three Airbus A350 aircraft that joined the airline’s fleet in May and July of this year were financed in Chinese yuan by AVIC International Leasing and CCB Financial Leasing.
As part of its earnings from various currencies and natural hedging strategies, the airline added the Chinese renminbi to its financing portfolio. Continuing to grow in the Chinese market, THY has enriched its portfolio both geographically and in terms of currency, He is working with leading Chinese aircraft finance companies.
Professor Ahmet Bolat, Chairman of the Board of Directors and Executive Committee of THY: "We have added another innovation to our achievements in aircraft financing and become the first airline outside of China to finance aircraft in Chinese yuan". Bolat said that, through this method, they sought to protect themselves from exchange-rate pressure and keep the cost of financing at its lowest level. He stressed that the interest shown by Chinese business partners in this innovative financing model is an indicator of trust between institutions and cooperation among countries.
The THY aircraft financing team achieved the lowest cost of financing in the sector due to transactions in various currencies. In addition, the team has received annual funding awards from world-renowned organizations such as Global Transport Finance, Airline Economics, Airfinance Journal and Bonds, Loans & Sukuk, for its creative financing models. THY has won over 30 international awards in the financing field and has executed financial transactions worth around $16 billion over the past 10 years.
