Flydubai has taken delivery of the first of three Boeing 737-800NG aircraft financed through a $117.5 million loan agreement with the Export-Import Bank of the United States.
Its arrival takes flydubai’s fleet size to 26 aircraft in operation.
The next two aircraft will arrive in November and December, meaning by the end of 2012, the airline will have 28 aircraft.
Over the last three years since flydubai launched it has successfully financed its fleet primarily through sale and leaseback agreements and market appetite for similar funding to flydubai remains strong.
This deal is an endorsement that flydubai has reached a level of maturity and size that other financing sources can be accessed.
flydubai’s financial position, its sustainable growth and achievements are additional important factors in demonstrating that this is also the right time to explore alternative financing opportunities.
Moreover, it represents a first financing for Ex-Im Bank of Boeing aircraft to flydubai.
This year has also witnessed significant network expansion with the addition of six new routes to date (Bucharest, Sana’a, Basra, Najaf, Bishkek and Taif) and a further two to follow:
Skopje, the capital of Macedonia is scheduled to launch in October and Tabuk, Saudi Arabia on November 07th.