Iraqi Airways to lease 20 planes

12 July 2009

Iraq's Transport Ministry has said that Iraqi Airways has signed a four-year agreement with Ross Aviation to lease 20 aircraft and jointly operate them with the US-based firm. Under the agreement, the country's national carrier will receive 12% of total revenues during the first two years of the contract, and 15 % during the third and fourth years, after which Iraq will buy two of the cargo aircraft on lease.

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