FINANCIAL NEWS

Flydubai bags USD172m financing deal

28 May 2012

(MENAFN) Flydubai’s CEO, Ghaith Al Ghaith, announced that the carrier was able to bag a financing deal worth USD172 million, reported Arabian Business.

Al Gaith said that the loan would be used to finance expansion plans including the acquisition of two Boeing 737-800NG aircraft in June and July of 2012.

Al Gaith said that the loan was crucial at this point as the carrier’s clientele base continues to grow in the UAE.

It is worth noting that as of March 2012, the carrier’s fleet consists of 23 Boeing 737-800 aircraft with an average age of 1.3 years, some of which are leased. They are all equipped with 189 passenger seats in a high-density all-economy class cabin layout.

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