Jazeera Airways secures $105m funding

24 January 2010

Natixis agreed to finance three Airbus A320 aircraft

Kuwait’s budget carrier Jazeera Airways has secured financing of $105m for three Airbus A320 aircraft.

The carrier says it has finalised an agreement for the funding from the French lender Natixis.

Jazeera is listed on the Kuwaiti Stock Exchange and operates a fleet of 11 Airbus A320 aircraft.

The airline has firm orders for an additional 29 aircraft to be delivered by 2016. It flies to 23 destinations across the Middle East and North Africa region.

In 2009 Jazeera Airways halted flights to a number of destinations from its second hub in Dubai, due to regulatory changes by the UAE which limited the rights of carriers to transport traffic between a second and third country (MEED 03:06:09).

In December last year, the carrier suspended flights to Hurghada in Egypt until 2 June 2010 when the route will become a seasonal route only.

Flights between Kuwait and Tehran and between Dubai and Bahrain ceased operations on 3 January while the proposed launch of a service to Latakia was postponed indefinitely in December.

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