Türkiye's national carrier Turkish Airlines (THY) became the first airline to secure Chinese yuan-denominated aircraft financing outside of China, according to a statement on Wednesday.
Three Airbus A350 aircraft that joined the flag carrier’s fleet in the May-July period are financed in Chinese yuan by China's leading AVIC International Leasing and CCB Financial Leasing, the company said.
"By adding the fifth currency to the variety of currencies used in aircraft financing, we are not only supporting our currency hedging strategies but also focusing on keeping our financing cost at the minimum levels," Turkish Airlines Chairperson Ahmet Bolat said.
"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," he added.
