Jazeera Airways has acquired the Sahaab Aircraft Leasing Company (Sahaab) for KWD 25.6m (US$88.2m).
Sahaab owns nine Airbus A320 aircraft, which were purchased and leased back to Jazeera Airways, according to Gulf News.
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The aircraft leasing firm will continue to operate as a subsidiary of the airline and will cater for other airlines, both regionally and globally, in addition to Jazeera Airways.
Sahaab will take delivery of 38 Airbus A320s by 2016, based on confirmed orders with the manufacturer.
