UAE’s flydubai, Standard Chartered ink SLB deal for five Boeing aircraft

Standard Chartered and Dubai-based budget carrier, flydubai, have signed the sale and leaseback (SLB) agreement for five new Boeing 737 MAX aircraft.

Four aircraft were delivered between March and May, with the fifth aircraft scheduled to arrive from Boeing before the end of the first half of the year. The deal was structured, financed and arranged exclusively by Standard Chartered.

The transaction will support the future growth of the airline’s fleet, and highlights the long-standing relationship between flydubai and Standard Chartered.

Ghaith Al Ghaith, CEO of flydubai, said: “We are pleased to have received Standard Chartered’s support on this transaction which builds on previous aircraft financing and leasing agreements. We continue to diversify our sources of funding and attract reliable partners in support of our future growth plans. We look forward to working with Standard Chartered again in the future.”

Rola Abu Manneh, CEO, Standard Chartered UAE, added: “Standard Chartered has had a long-standing relationship with flydubai and the Investment Corporation of Dubai across multiple businesses. This transaction demonstrates the Bank’s continued commitment to the airline and the Government of Dubai’s ision for the wide spectrum of sectors that support Dubai’s dynamic economy.”

in recent news, flydubai announced it is resuming flights to Ha’il and Tabuk in Saudi Arabia. The airline currently has a network of more than 95 destinations in 50 countries

Read: Budget carrier flydubai restarts flights to Saudi Arabia’s Ha’il and Tabuk