Jazeera Airways Group secures $90 million in aircraft funding

Victoria
By Victoria June 17, 2013 15:13

Jazeera Airways Group secures $90 million in aircraft funding

 

The National Bank of Kuwait (NBK), DVB Bank, and Jazeera Airways Group (JAG) have announced a $90 million commercial facility for funding JAG’s aircraft purchases through a structured facility led by NBK and DVB Bank SE. 

The loan, which has a 12-year term, is employed to fund the purchase of three brand new Airbus A320 aircraft, one of which was already delivered earlier this month. 

NBK Kuwait CEO Sheikha K. Al-Bahar said, “NBK’s relationship with Jazeera Airways Group dates back to the very early days of the company’s success. In 2008 NBK managed the company’s IPO and we’ve continued to support the company’s various funding requirements since then. Today Jazeera Airways is one of the few success stories to come out of the Middle East over the last decade. We are proud to be part of the airline’s success story.” 

DVB Bank SE Member of the Board of Managing Directors Bertrand Grabowski said, “Our relationship with Jazeera Airways Group dates back to June of 2005 when DVB Bank SE was part of the original group of banks to fund the airline’s first four aircraft. Eight years later, it is a pleasure to witness the very airline that we helped seed in 2005 transform into the market-leading and profitable airline it is today.” 

Jazeera Airways Group Chairman Marwan Boodai said, “With this deal, we have secured our funding requirements for the coming two years. NBK and DVB Bank SE are true long-term partners in our business and we are humbled by their continued support for our operations.” 

Victoria
By Victoria June 17, 2013 15:13
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Ffinance%2Fjazeera-airways-group-secures-90-million-in-aircraft-funding%2F"> registered </a> users can comment.