16 Jan 2015
(MENAFN) Kuwait-based Jazeera Airways announced the sale of 15 Airbus A320 aircrafts owned by the group’s Sahaab Aircraft Leasing for USD507 million, resulting in the group having a cash surplus of USD81.8 million, Gulf News reported
The carrier said that the transaction, which was signed with joint venture between Investec Bank and Chow Tai Fook Enterprises Limited as the buyers, will also result in raising Al Jazeera Airways Group’s cash balance to just over USD279 million in 2015, making it debt-free, adding that the sale is part of a strategic shift to a leased aircraft operation, and a focus on the passenger airline business.
“The move to divest from the leasing business, though profitable, by selling our fleet and continuing with a leased-aircraft operation was a strategic decision to enhance the airline’s business model and focus on future growth opportunities, boost shareholder value and enhance return on equity,” said chairman of Jazeera Airways Group.
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more