Jazeera Airways, NBK Capital, DVB pool together $375 for new aircraft leasing firm

Dubai: Jazeera Airways, NBK Capital and DVB jointly announced on Monday at the Euromoney Airfinance Conference the establishment of an aircraft leasing company to be capitalized at $375 million and based out of Kuwait.

The new company is called 'Sahaab Aircraft Leasing (Sahaab Leasing)'. The promoters of Jazeera Airways hold strategic interest in the company and both NBK Capital and DVB bank as well.

Sahaab Leasing will provide both narrow and wide-bodied commercial jet aircraft on operational leases to airlines in the Middle East and emerging markets initially and eventually worldwide.

It will acquire aircraft by direct purchase from aircraft manufacturers such as Airbus and Boeing, focusing on building a portfolio of brand new aircraft.