Jazeera Airways to Purchase Six A320-200s from Lease

Share

Jazeera Airways, based in Kuwait, has made a strategic move to strengthen its operational fleet by deciding to purchase six A320-200 aircraft, which are currently under operating leases. This decision was approved during a board meeting on December 8, and the details were subsequently filed with the Kuwaiti stock exchange (Boursa Kuwait) on December 9.

The transaction, valued at KWD 55.57 million dinars (approximately USD 180.6 million), will be financed through a combination of the airline’s internal reserves and loans sourced from local banks. This financial maneuver is expected to generate a one-time gain of about KWD 1.11 million (USD 3.6 million) for Jazeera Airways due to the early termination of the lease agreements.

Jazeera Airways operates a total fleet of twenty-four aircraft, which includes thirteen A320-200s. According to ch-aviation fleets data, these A320-200s are leased from a range of lessors including SMBC Aviation Capital, Avolon, AerCap, ORIX Aviation, Zephyrus Aviation Capital, and DAE Capital. The airline has not specified which of the six aircraft from its current fleet will be purchased.

This acquisition is part of Jazeera Airways’ broader strategy to enhance its operational flexibility and reduce dependency on leased aircraft. The move is anticipated to have a positive impact on the airline’s financial statements in the medium to long term, aligning with its growth and sustainability goals. Currently, Jazeera Airways serves 61 airports in 28 countries, with its network supported by both the A320-200s and eleven A320-200Ns.

This decision marks a significant step in Jazeera Airways’ ongoing efforts to optimize its fleet management and financial health, ensuring it remains competitive in the regional and international aviation markets.

Related News : https://airguide.info/?s=Jazeera+Airways

Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com

Share