New plane leasing firm to be set up in Gulf

10/16/2008 10:44:27 AM

The founders of Kuwaiti carrier Jazeera Airways are setting up a new leasing company that will order up to 50 planes from Airbus and Boeing next year to meet surging aviation traffic in the Gulf, Reuters reported.   The low-cost carrier said in a statement that founders Kuwaiti investment bank NBK Capital and German transport finance bank DVB Bank would jointly launch the US$375 million aircraft leasing company by year-end.   Jazeera Airways Chief Executive Marwan Boodai told Reuters the new company, called Shabab Aircraft Leasing Company, would make a first order by mid-2009 of narrow-body A320 and B737 planes in a deal worth $3 billion.   The Kuwait-based leasing company would initially focus on Gulf carriers and then from around 2010 expand to North Africa, India and Europe, Boodai said.   Several new airlines have been launched in the Gulf recently, with Kuwait's Wataniya Airways expected to start operations in January.   CargonewsAsia

RELATED NEWS

OTHER NEWS

Boeing talks with machinists collapse (10/16/2008 10:43:47 AM) British Airways drops fuel surcharge (10/16/2008 10:43:28 AM) 70 carriers to fail this year? (10/14/2008 9:46:00 AM) Abu Dhabi Airport opens second runway (10/14/2008 9:40:08 AM) Another fee reduction at Toronto Pearson (10/14/2008 9:39:51 AM) Three months of cargo drops (10/14/2008 9:38:24 AM) New Flights from Malaysia (10/13/2008 9:54:47 AM) Strike hurting Boeing suppliers and airlines (10/13/2008 9:51:17 AM) Martinair to cease Australia flights (10/11/2008 9:24:33 AM) German carrier adds more US freight capacity (10/11/2008 9:24:10 AM)

COMMENTS

Your comment

Content: Email / Name / Tel:

The most comprehensive and easy-to-use global marine weather application

With the Courtesy of Bao Hoang Yachts Co. Click "HERE" to get your own 30day free trail or contact Ms Phuong Bui at Vietnam Shipper: phuongbq@vil.com.vn / 08.39330 148