Air Arabia reported its first full-year loss on record after booking impairments for exposure to private equity firm Abraaj
Air Arabia is considering placing orders for as many as 100 planes in the second quarter, Chief Executive Officer Adel Ali said.
"We need to probably put in an order of up to 100 planes this year, and that should be done before sometime in the quarter two," he told Bloomberg TV.
"We are talking to both Boeing and Airbus at this stage to see what fits us and the best commercial deal we can get."
Air Arabia said Thursday reported its first full-year loss on record after booking impairments for exposure to private equity firm Abraaj, which is undergoing a court-supervised restructuring.For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.