SAHAAB LEASING CAPITAL INCREASED BY JAZEERA AIRWAYS

Dino D'Amore
By Dino D'Amore December 12, 2010 11:44

SAHAAB LEASING CAPITAL INCREASED BY JAZEERA AIRWAYS

Jazeera Airways Group has increased the capital of its fully-owned leasing arm, Sahaab Aircraft Leasing. It has increased the capital in the leasing arm from KD 20 million ($70-9 million) to KD 29 million ($102.8 million) to take advantage of new market opportunities.

Sahaab Aircraft Leasing, launched in October 2008, was acquired by Jazeera Airways in February 2010 as part of the Group’s vertical integration strategy of investing in services that compliment passenger airline operations.

Group Chairman Marwan Boodai said: “Sahaab’s acquisition brought immediate benefits to our business as planned, such as consistent and stable revenue streams as well as access to global leasing markets. And now less than a year since our acquisition we see additional growth opportunities opening up in the leasing market. Thus, Jazeera Airways Group committed to increasing Sahaab’s capital through internal resources.”

The leasing company now has six Airbus A320 aircraft placed with Jazeera Airways and four A320s placed with Virgin America, and one Airbus A320 placed with a third undisclosed customer.

Dino D'Amore
By Dino D'Amore December 12, 2010 11:44
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