15 July 2008

FlyDubai in $4bn aircraft order

New low cost carrier FlyDubai has ordered more than 50 new generation Boeing 737-800 aircraft.

The deal, worth around $4 billion, was among the first major aircraft orders to be unveiled at this yearÃ¢â¬â¢s Farnborough International Airshow.

The carrier has places a firm order for 50 of the 189-seat aircraft and a separate leasing agreement with Babcock & Brown Aircraft Management for a further four 737-800s.

FlyDubai, which aims to start scheduled flights in mid-2009, has retained substitution rights to convert the 737-800s into extended range 737-900ERs in the future.

The new airlineÃ¢â¬â¢s chairman His Highness Sheikh Ahmed Bin Saeed Al-Maktoum said: Ã¢â¬ÅâœThis aircraft is ideally suited to our core business, which is providing affordable, efficient and flexible options for people wishing to travel to and from Dubai.Ã¢â¬~

Chief executive Ghaith al Ghaith said: Ã¢â¬ÅâœThis announcement is a major milestone in the development of FlyDubai.

Ã¢â¬ÅâœThe ability to make such a significant aircraft order highlights the confidence we have in the future of FlyDubai Ã¢â¬' a confidence which is shared by the government of Dubai and our partners.

Ã¢â¬ÅâœNow that we have our aircraft on order, we can move on to the next stage of our development and look forward with anticipation to the start of our scheduled flights in the middle of next year.Ã¢â¬~

by Phil Davies