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Saudia to acquire 50 new Airbus aircraft through Shari'ah-compliant finance

IAFC partnered with Airbus and the Islamic Development Bank (IDB) to create a Shari’ah-compliant fund seeded by Airbus and the IDB and dedicated for Airbus aircraft. The Fund offers various forms of Islamic financing solutions, including Shari’ah compliant operating leases, Sukuk, and Ijarah financing.
Director General of Saudia, Engineer Saleh Bin Nasser Al-Jasser said that the deal with Airbus is an important step to support the transformation programme and achieve the objectives of the strategic plan of the company over the next five years. 
Saudia will receive 14 aircraft in 2016, 18 aircraft in 2017, and 18 aircraft 2018 under the deal.

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