Air Arabia to raise $450m in loans to finance fleet expansion
Complex Made Simple

Air Arabia to raise $450m in loans to finance fleet expansion

Air Arabia to raise $450m in loans to finance fleet expansion

Air Arabia has said it plans to raise $400m to $450m in bank loans to finance aircraft purchases, Bloomberg has reported. "We will be getting deliveries till the end of 2015," Air Arabia CEO, Adel Ali told the news service. "After that, we will need airplanes to expand and we will need replacement airplanes for the ones that have been in service for three years." Air Arabia has already raised $150m in loans that will be spent this year, Ali said. The carrier, which will receive 10 aircraft next year as it adds destinations, will decide in the next 18 months on its next aircraft order, including which models, he said.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved