Thursday 23 September 2010

gulfnews : flydubai secures $750 million in aircraft financing

Flydubai said Wednesday it signed aircraft finance deals worth more than $750 million (Dh2.7 billion) — through General Electric Capital Aviation Services and Babcock and Brown Aircraft Management — which analysts say could lead to Dubai's budget airline flying far ahead of the region's competitors.

The UK's FBE Aerospace chief analyst Saj Ahmad told Gulf News: "Rivals will be worried that during the downturn they are not expanding and flydubai is. Flydubai will use the 737-800s on routes which rivals like Air Arabia [using the A320s] cannot match."

Sharjah's Air Arabia and Kuwait's Jazeera Airways share some of the most popular routes with flydubai. However, flydubai flies to destinations that the others don't, such as Erbil in the Kurdistan region of northern Iraq, Djibouti and Azerbaijan's Baku.

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