Turkish Airlines has added a new currency to its financing portfolio, becoming the first airline outside of China to secure financing in Chinese yuan (RMB).
“By adding the fifth currency to the variety of currencies used in aircraft financing, we do not only support our currency hedging strategies but also focus on keeping our financing cost at the minimum levels,” said Prof. Ahmet Bolat, Turkish Airlines chairman of the board and executive committee.
“Our Chinese business partners’ interest and support to this transaction, which was never used outside China before, is an indicator of the mutual trust between the parties as well as the collaboration between our countries.”
Three A350 aircraft, that joined the airline’s fleet between May and July of this year, are now financed in Chinese yuan by AVIC International Leasing and CCB Financial Leasing.
Turkish Airlines finances aircraft in RMB
