FINANCIAL NEWS

Kuwait’s Jazeera Airways acquires leasing firm

15 Feb 2009

(MENAFN) Kuwaiti carrier Jazeera Airways said that it has fully acquired Sahab Aircraft Leasing, a leasing firm launched in 2008 for $88.77 million, Reuters reported.

The acquisition gives Jazeera Airways a platform to pursue strategic vertical integration initiatives lined up for 2010 and 2011 that include an airline acquisition and access to global leasing markets, Jazeera said in a statement.

Sahab will have a minimum fleet of 38 Airbus A320s by 2016 based on confirmed orders with the manufacturer,’ the statement said. It currently has a fleet of nine Airbus A320s.

Jazeera, which competes with UAE-based carriers Air Arabia and flydubai, has a firm order for 29 Airbus A320 aircraft and currently operates 11 planes across the Middle East and Egypt.

More News

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