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September 23, 2010
- Flydubai,
Flydubai (styled
as flydubai) is an Arabian start-up low-cost airline in the |
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Ghaith Al Ghaith,
CEO of Flydubai, said: “I am delighted to be able to announce this
aircraft financing today. These deals are very significant for Flydubai
because this committed money secures the next nine aircraft we are due
to receive and mean all our financing requirements until June next year
are taken care of.
“We already have
agreements in place with both GECAS and BBAM and it is clear from their
willingness to enter into further ties with us that they have been
pleased with what Flydubai has delivered so far. These are some of the
largest aircraft financers in the world and their faith in Flydubai is a
huge endorsement of us and our success since our launch.
“When we went out
to the markets this time to seek financing for our aircraft we were
overwhelmed by the response. At the end of the day we received offers
for far more aircraft than we needed to finance, which is a very nice
position for a young and ambitious airline to be in. I believe this is a
reflection not only of our position but also of the confidence the
financial community around the world has in Both deals are eight year term sale and leaseback agreements. The agreement with GECAS is for six aircraft, taking the total number of Flydubai aircraft GECAS finances to 10. BBAM are adding another three aircraft to make their total commitment six. |
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