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flydubai secures USD 500 million Term Financing Facility

Dubai Aviation Corporation, (trading as "flydubai") successfully completed a USD 500 million 5-year Term Financing Facility on 14 November, 2019.

Emirates NBD Capital Limited (“EMCAP”) and Noor Bank PJSC have acted as Global Coordinators and Emirates NBD Bank PJSC and Noor Bank PJSC have jointly underwritten the transaction. The Facility was subsequently launched to a general syndication on 18 November 2019.

Emirates NBD Capital Limited (“EMCAP”) Noor Bank PJSC and Dubai Islamic Bank PJSC were the Mandated Lead Arrangers and Bookrunners.

The Facility will be utilised towards refinancing the carrier’s first landmark Sukuk issued in 2014, which matures on 26 November 2019.

Ahmed Al Qassim, Senior Executive Vice President & Group Head, Corporate & Institutional Banking at Emirates NBD said: “The financing demonstrates our commitment towards supporting flydubai. As a leading financial institution in the region, our aim is to provide innovative solutions to our valued clients in order to achieve their long-term objectives.”

Ghaith Al Ghaith, Chief Executive Officer at flydubai commented: “we continue to explore ways to further diversify our sources of funding, while at the same time optimising our cost of funding.  We are pleased to see the healthy appetite in the market that has enabled us to successfully raise the five-year Term Loan for USD 500 million to refinance our first Sukuk issued in 2014.”

About flydubai

From its home in Dubai, flydubai has created a network of more than 125 destinations served by a fleet of 86 aircraft. Since commencing operations in June 2009, flydubai has been committed to removing barriers to travel, creating free flows of trade and tourism and enhancing connectivity between different cultures across its ever-expanding network.

flydubai has marked its journey with a number of milestones:

An expanding network: Created a network of more than 125 destinations in 58 countries across Africa, Central Asia, the Caucasus, Central and South-East Europe, the GCC and the Middle East, the Indian Subcontinent, and South-East Asia.

Serving underserved markets: Opened more than 90 new routes that did not previously have direct air links to Dubai or were not served by a UAE national carrier from Dubai.

An efficient single fleet-type: Operates a single fleet-type of 86 Boeing 737 aircraft and includes: 29 Next-Generation Boeing 737-800, 54 Boeing 737 MAX 8 and 03 Boeing 737 MAX 9 aircraft.

Enhancing connectivity: Carried more than 100 million passengers since it began operations in 2009.


For all our latest news, please visit the flydubai Newsroom.

Dubai Aviation Corporation, trading as “flydubai”,
Dubai International Airport,
PO Box 353,

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For enquiries relating to your booking,
please telephone the Contact Centre
on (+971) 600 544 445.