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07/03/2018 05:52 AST
Air Arabia's expansion could see the biggest discount carrier in the Gulf and North Africa order 100 narrow-body planes worth $11 billion (Dh40.39 billion) at list prices before the end of the year.
The Sharjah-based airline hasn't yet reached a decision but the figure is "probably the right number," Chief Executive Officer Adel Ali said in an interview on Monday near New Delhi.
Air Arabia currently operates a fleet of 50 Airbus SE A320 jets and is looking at the upgraded Neo version, while also seriously considering Boeing Co.'s rival 737 Max, Ali said. Bombardier Inc.'s C Series plane is also in the running as the carrier moves to renew its fleet after full-year profit jumped 29 per cent in 2017 to a record Dh631 million ($171 million).
The discount carrier is rebounding from a period of overcapacity and lower yields in the Middle East as the low oil price weighed on Gulf economies and concerns about terrorism in North African nations hurt leisure demand.
Air Arabia carried 8.5 million people in 2017 and regards 7 per cent growth in passenger numbers this year as easily achievable, Ali told Bloomberg TV last month, identifying Morocco and Egypt as the markets improving fastest.
Existing fleet plans include the deployment of six A321neo planes to be leased from Air Lease Corp. starting in 2019. The carrier has specified long-range variants to help it add new routes.
Gulf News
10/07/2025
Air Arabia Abu Dhabi has announced the launch of a new service connecting Zayed International Airport and Sialkot International Airport in Pakistan.
Starting July 17, the new route will ope
Trade Arabia
26/06/2025
Sharjah-headquartered budget carrier Air Arabia has announced the resumption of flights from its hub to various destinations across Iran, Iraq, Georgia, and other key cities, effective Tuesday, July
Gulfnews
14/05/2025
Air Arabia, the first and largest low-cost carrier (LCC) operator in the Middle East and North Africa, has reported a strong first quarter of 2025 financial and operational results, as the airline co
Trade Arabia
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18/07/2025
QNB Group, announced that Banco Santander, S.A., Barclays Bank PLC, DBS Bank Ltd., Deutsche Bank AG, London Branch, Mizuho International plc, QNB Capital LLC, SMBC Bank International plc and Standard
QNA
18/07/2025
Kuwait's Jazeera Airways has launched the first phase of a Customer Experience (CX) and Feedback Intelligence Platform from LitmusWorld, following its recent upgrade of its Passenger Service Systems
Trade Arabia
17/07/2025
In a strategic move that sets a regional benchmark, Oman Cables Industry (OCI), has secured Environmental Product Declarations (EPDs) for its key cable families reinforcing its position as a regional
Times of Oman
17/07/2025
Emirates NBD has concluded AED3.9 billion ($1.06 billion) Syndicated Bonding Facilities to a consortium created by MAPA, LIMAK and CRRC that will deliver the new Dubai Metro 'Blue Line' Project.
Trade Arabia
17/07/2025
Adnoc announced on Wednesday its intention to transfer its 24.9 per cent shareholding in OMV AG to XRG, its wholly-owned international investment company.
This transfer, which is subject to
Khaleej Times
Financial Information Co.
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