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Sun 22 Jun 2014 02:34 PM

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Kuwait's Jazeera says leasing unit inks first Euro deal

Sahaab Aircraft Leasing signs agreement for long-term leases on two aircraft with TAP Portugal

Kuwait's Jazeera says leasing unit inks first Euro deal

Kuwait-based Jazeera Airways Group on Sunday announced that its fully-owned aircraft leasing subsidiary Sahaab Aircraft Leasing has entered the EU aviation market.

Sahaab has placed two Airbus A320 aircraft on long-term leases with TAP Portugal airlines, Jazeera said in a statement.

Operating since 1945, Tap Portugal is based in Lisbon, a key European gateway at the crossroads of Africa, North America and South America.

The airline operates an average of 2,250 flights a week with a fleet of 55 Airbus aircraft, plus another 16 at the service of PGA, its regional airline, for a total of 71 aircraft.

Jazeera Airways Group chairman, Marwan Boodai, said: "We welcome TAP Portugal as Sahaab's fourth international customer and look forward to a long-term relationship with the airline."

In addition to the two aircraft placed with TAP Portugal, Jazeera Airways Group also has four aircraft A320s placed with Virgin America since 2010, one Airbus A320 placed with SriLankan Airlines since 2010, and one aircraft placed with Flynas in 2013.

Boodai added: "With the recent placement, Sahaab Aircraft Leasing has assets distributed across the globe with A-list customers in the US, Europe, the Middle East, and Asia."

Sahaab Aircraft Leasing was launched in October 2008 with Jazeera Airways as its first customer. The leasing company was then fully acquired by Jazeera Airways Group in 2010.

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