Business | Aviation

Jazeera Airways acquires Airbus A320s through $70m deal with banks

Kuwait and Dubai-based airline Jazeera Airways announced that it has signed a deal worth $70 million in commercial funding with DVB Bank and Natixis Transport Finance, to finance the purchase of two brand new Airbus A320 aircraft that have been recently delivered to the airline.

  • Staff Report
  • Published: 23:29 November 17, 2008
  • Gulf News

Freedom Town, Kuwait: Kuwait and Dubai-based airline Jazeera Airways announced that it has signed a deal worth $70 million in commercial funding with DVB Bank and Natixis Transport Finance, to finance the purchase of two brand new Airbus A320 aircraft that have been recently delivered to the airline.

European banks DVB and Natixis Transport Finance, strong lenders to the global aviation sector, are intending to build on the strategic partnership they have established with the airline for its future growth.

Jazeera Airways' Chairman and CEO Marwan Boodai said: "That we secured the financing for these two new aircraft despite the challenging international economic climate, demonstrates that the financial community has confidence in our business model and our ability to deliver sustainable results. In securing this deal with DVB and Natixis Transport Finance, we are able to reinforce the message to our customers and investors that Jazeera Airways is committed to growing its fleet to diversify the range of destinations that we fly to and to increase the frequency with which we fly - enabling passengers across the region to fly more, while focusing on delivering higher returns to our investors."

The two new A320 aircraft, as the rest of the Jazeera Airways six-strong fleet, have been fitted with the airline's signature leather seating, while the Jazeera Plus (J+) cabin will offer business travellers the highest standards of comfort, relaxation and a range of in-flight amenities. The aircraft will additionally incorporate wider overhead storage, a wider cabin feel and improvements in the cabin's design, which make the aircraft even quieter for travellers.

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