Jazeera launches aircraft leasing company

13 October 2008

Jazeera Airways launched an aircraft leasing joint venture company today. Called Sahaab Leasing it is backed by $375m of capital from the three partners - Jazeera, National Bank of Kuwait Capital and DVB Bank, a European bank that specialises in the transport sector. Sahaab will focus on the Middle East, and plans to have between 40 and 50 Airbus and Boeing narrow and wide bodied aircraft either in service or on order by 2012. Jazeera Airways CEO Marwan Boodai told AME Info that some of those planes will be leased to Jazeera Airways, as well as rival low cost carriers, should they approach Sahaab.

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