FlyDubai, Dubai's low-budget carrier, announced yesterday that it has secured a deal to finance four Boeing 737-800 aircraft worth $320 million with GE Capital Aviation Services (GECAS). The sale and leaseback agreement covers the aircraft due to be delivered this year, with two expected in July, one in October and one in December. “This is a significant deal for FlyDubai as it is the first financing that we have secured from outside the UAE. This deal ensures our financing needs for the rest of 2009 when we will receive a further four aircraft from Boeing. This will bring our fleet to a total of six aircraft by the end of the year and allow FlyDubai to operate to around 14 destinations,” says FlyDubai CEO Ghaith Al-Ghaith, according to a press statement published today.
