Flydubai has signed a sale and leaseback agreement with Ireland’s Avolon leasing group for four Boeing 737 planes worth $320m.
Flydubai chief executive officer Ghaith al-Ghaith said the next 13 aircraft were now completely financed, which takes the company through to December of next year.
The Dubai-based airline has signed two other sale and leaseback agreement for nine aircraft with GE Capital Aviation Services and BBAM, taking the total financing secured to $1bn.
Established by the Dubai Government as a sister firm of Emirates in March 2008, Flydubai currently has a fleet of nine Boeing 737-800 planes and flies to 24 destinations, according to zawya.com.
