Sahaab Aircraft Leasing sells 15 A320s

Kuwait’s low-cost carrier Jazeera Airways is selling 15 Airbus A320 aircraft owned by its leasing firm, Sahaab Aircraft Leasing, for $507 million. A joint venture between South Africa’s Investec Bank and Hong Kong-based Chow Tai Fook Enterprises is buying the aircraft portfolio. “The transaction will result in additional cash surplus of 24 million dinars ($81.7 million) and will lift Jazeera Airways Group’s cash balance to 82 million dinars in 2015,” the airline said.