Watson Farley & Williams (“WFW”) is delighted to announce that it advised Bank AlJazira on the secured Murabaha financing of three Airbus A320neo aircraft for Flynas, which was named Middle East & Africa Islamic Finance Deal of the Year at the Airline Economics Middle East, Africa & Islamic Aviation 100 Awards 2025.
The transaction marked a significant milestone for Flynas coming just prior to its IPO as well as for the Kingdom of Saudi Arabia having an innovative structure allowing direct security to be taken over the aircraft and being registered in the kingdom to support the Islamic financing.
London Partner Randeep Bubbra, who led the cross-border WFW Aviation & Aerospace team that advised Bank AlJazira, was also named in this year’s prestigious Airline Economics “40 Under 40”, in part for his work on the transaction. In addition, WFW was recognised at the Airline Economics European and Sustainability Awards 2025, where it took home Aviation Law Firm of the Year and Editor’s Deal of the Year for Innovation.
WFW Global Aviation and Aerospace Sector Head Jim Bell commented: “I’m delighted that our Aviation team was recognised again for their groundbreaking work in aviation finance. I’m confident our team will continue to raise the bar and pioneer innovative solutions for our clients in the aviation and aerospace sectors”.
Randeep added: “I’m delighted to have advised on this financing. It was a pleasure to work with Bank AlJazira and Flynas on finding a financing product that allows airlines in the Kingdom of Saudi Arabia to access liquidity on attractive terms”.
