Font Size

- Aa +

Mon 18 Nov 2019 03:36 PM

Font Size

- Aa +

UAE's Air Arabia inks $14bn Airbus planes deal

Low-cost carrier says it will buy 120 Airbus A320s in announcement at Dubai Airshow

UAE's Air Arabia inks $14bn Airbus planes deal

Air Arabia said Monday it would buy 120 Airbus A320s in a deal worth $14 billion.

Air Arabia said Monday it would buy 120 Airbus A320s in a deal worth $14 billion that represents a major expansion for the UAE-based low-cost carrier.

"The first delivery is expected to start in 2024," said Adel al-Ali, the CEO of Air Arabia, based in the emirate of Sharjah which borders Dubai.

He added: “Air Arabia’s fleet growth strategy has always been driven by commercial demand and we are glad to announce today one of the region’s largest single-aisle orders with Airbus to support our growth plans.

"This new milestone underpins not only our solid financial fundamentals but also the strength of our multi-hub growth strategy that we have adopted over the years while remaining focused on efficiency, performance and passenger experience.”

Christian Scherer, Airbus chief commercial officer, said: “We are delighted to expand our partnership with Air Arabia; this is a great endorsement for the A320neo Family which will allow the airline to tap into new markets. We are committed to supporting the fast expansion of Air Arabia and the region.”

Air Arabia currently operates a total fleet of 53 Airbus A320 and A321 aircraft.

Last month it announced an agreement with Abu Dhabi-based giant Etihad Airways to launch a new low-cost airline based in the UAE capital.

The new carrier, Air Arabia Abu Dhabi, will be launched in "due course", Etihad said at the time.

Etihad, established in 2003 by the oil-rich Gulf emirate's government, has faced stiff competition from Dubai aviation giant Emirates and Doha-based Qatar Airways.

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.