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Thursday, 2 July 2009

flydubai secures Boeing finance deal

flydubai has secured a US$320 million (Dh1.17bn) financing deal for four Boeing 737s from GE Capital Aviation Services (GECAS), giving the month-old budget airline a financial boost amid tight conditions for credit within the air travel industry.

The aeroplanes will be delivered between now and December to fuel the airline’s rapid network expansion.
The airline, owned by the Dubai Government, launched its first route on June 1 and plans to operate 15 routes by the end of the year, amid forecasts that airlines worldwide will lose $9bn this year because of the economic downturn.

Ghaith al Ghaith, the chief executive of flydubai, said its first month’s performance was above expectations, but he did not give figures.

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