Qatar Airways agrees first local credit facility in three decades

Qatar Airways has secured QR4.5 billion ($1.2 billion) in funding from domestic banks, its first local credit facility in 28 years.

The money is fully underwritten and led by Qatar National Bank, the sole and exclusive bookrunner and global coordinator, the Qatar News Agency reported.

Other lenders include Ahlibank, Commercial Bank, Doha Bank, Dukhan Bank, Qatar Islamic Bank and Qatar International Islamic Bank.

The facility comprises both conventional and Islamic tranches, but specific breakdowns and contractual terms were not disclosed.

Last month the state-run airline said net income jumped almost 30 percent to QAR7.9 billion in the 2024-25 fiscal year, an increase of more than QAR1.7 billion on the year before.

Passenger numbers rose almost 8 percent to 43 million.

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Its fleet of 292 aircraft at the end of March made it the sixth largest airline in the world by available seat kilometres, which represents an airline’s passenger carrying capacity.

Qatar Airways agreed to purchase up to 210 Boeing 787 Dreamliner and 777X jets for $96 billion in what the White House described as Boeing’s “largest ever wide-body order” during President Donald Trump’s visit to the Gulf nation.