flydubai secures $172m funds for new planes
flydubai, Dubai's low-cost airline, has signed a deal for $172m in financing.
The agreement has been inked with Pembroke Group, the aircraft leasing and financing business of Standard Chartered, the airline said in a statement.
flydubai added that it will use the funds to buy two Boeing 737-800NG aircraft as the airline continues its expansion.
The two new aircraft will enter the flydubai fleet in June and July, increasing the low-cost carrier's capacity, while supporting network growth across the GCC, Middle East, North Africa, Indian subcontinent, Asia, and Central and Eastern Europe.
"This is the first such agreement we have made with Standard Chartered's subsidiary, Pembroke, and underpins the continued confidence lessors have in us as we drive growth by increasing capacity and connectivity,” said flydubai's CEO, Ghaith Al Ghaith.
"We have expanded rapidly to become the second largest carrier operating from Dubai International Airport and growing our fleet allows us to serve more passengers around the region."
flydubai operates from Terminal 2 on the north side of Dubai International Airport.
Jonathan Morris, CEO of Standard Chartered UAE, added: "The UAE is one of Standard Chartered's top five markets globally and we are committed to helping our clients expand their businesses in the UAE and globally."