Jazeera Airways: three new Airbus A320 aircraft
Kuwait based low cost airline Jazeera Airways today announced that it has taken delivery of its 11th aircraft and completed total ECA financing for US 105 million with NATIXIS for three Airbus A320 aircraft.
Jazeera Airways is listed on the Kuwait Stock Exchange and operates a fleet of 11 Airbus A320s from Kuwait and to destinations across the Middle East, Iran, and North Africa. The airline has firm orders for another 29 additional aircraft, to be delivered over the coming years with the last fleet installment scheduled for delivery in 2016.
Jazeera Airways CFO Barathan Pasupathi said “We have once again proven that we can secure funding in a relatively difficult credit climate. The Investment community and financial institutions continue to show confidence in our business model and Jazeera’s ability to deliver sustainable results. We are indeed pleased to secure backing from the European Export Credit Agencies and to see NATIXIS participate in this funding arrangement.”
