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HE Hussain Al Nowais, Chairman of the Oasis Leasing Board of Directors and HRH Prince Bandar bin Khalid al Faisal, founder and Chairman of Sama signed the agreement at a ceremony at the Sama stand during Arabian Travel Market in Dubai.
HE Al Nowais said the deal for the first aircraft is significant as it shows how companies throughout the Middle East are increasingly looking for and finding appropriate partners from within the region.
"At Oasis we have developed the financial expertise and backing necessary to bring business transactions to fruition. At the same time it gives me great pleasure to note this agreement is the first aircraft lease for Sama, and it pays tribute to the growing economic ties between our nations,"
he said.
HRH Prince Bandar bin Khalid al Faisal, founder of Sama and Chairman of the Board of Directors as well as representatives of both companies, signed the lease contracts for the aircraft at the Sama stand at the Arabian Travel Market in Dubai. HRH Prince Bandar said,
"Oasis is known worldwide for placing its aircraft with the most important international airlines. They have chosen to place their aircraft with Sama. This is a major vote of confidence in Sama and the future of Saudi Arabian aviation. We are very pleased to announce this as an important milestone in our set-up plans."
Sama, which means 'to soar, tower up or rise high' in Arabic, has said it will lease up to seven Boeing 737 aircraft in 2006 as the airline readies itself to start domestic service soon. The aircraft are configured in an economy class layout that has proven successful with other low-cost airlines.
Sama has said it will further expand into regional service outside of Saudi Arabia once the regulatory approvals are in place, but its emphasis on startup will be in serving the flying needs of frequent business travelers, leisure travelers and pilgrims traveling within Saudi Arabia.
Posted by Anne-Birte Stensgaard, Senior News Editor
