flydubai has signed a deal to finance four Boeing 737-800s (worth $320 million at list price), with GE Capital Aviation Services (GECAS).
The sale and leaseback agreement covers aircraft due to be delivered to flydubai from Boeing in 2009, with two expected in July, one in October and one in December.
“This is a significant deal for flydubai as it is the first financing that we have secured from outside the UAE,” noted flydubai CEO Ghaith Al Ghaith. “This deal ensures our financing needs for the rest of 2009. It will bring our fleet to a total of six aircraft by the end of the year and allow flydubai to operate to around 14 destinations, subject to achieving the necessary government approvals.”
Norman Liu, GECAS’s new president and CEO, commented, “This is a major achievement, the product of excellent work between our two teams – we wish flydubai every success in this new venture.”
flydubai has announced flights to eight destinations across the Middle East, North Africa and India, and currently operates to four – Beirut (Lebanon), Amman (Jordan), Damascus (Syria) and Alexandria (Egypt). The first two aircraft covered by this deal will service flydubai’s recently announced Indian routes of Lucknow, Coimbatore and Chandigarh.
The DoD has changed its structures and is been increasing efforts to facilitate access to loans by companies interested in working with artificial intelligence, advanced materials and semiconductors, biotechnology and quantum science.
India has approved millions of dollars in new military purchases, most of which will go to public sector companies.
The main obstacles to overcoming risks in the region are a lack of a strong cybersecurity culture and inadequate funds to invest in this domain given a widespread Chinese presence in the region.
MBDA is adapting to supply chain pressures as the Russian invasion of Ukraine leads to increased demand for armaments.
Despite the additional funding promised this week, the UK armed forces still look set to face cutbacks, and maintaining international commitments to AUKUS and GCAP may limit the options for other programmes.
This week on the Shephard Defence Podcast, senior naval reporter Harry Lye and military training & simulation reporter Norbert Neumann chat with Professor John Louth.
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