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Flydubai to receive new aircrafts equipped with in-flight entertainment system in near future

Business Materials 6 May 2011 13:40
Flydubai, Dubai's first low cost airline, has secured financing worth $80 million, at list prices, with aircraft leasing company, MC Aviation Partners (MCAP), for the remaining B737-800NG aircraft the airline is due to receive this year, the company's press release says.
Flydubai to receive new aircrafts equipped with in-flight entertainment system in near future

Azerbaijan, Baku, May 6 / Trend /

Flydubai, Dubai's first low cost airline, has secured financing worth $80 million, at list prices, with aircraft leasing company, MC Aviation Partners (MCAP), for the remaining B737-800NG aircraft the airline is due to receive this year, the company's press release says.

The eight year sale and leaseback agreement is for flydubai's 10th new Boeing 737-800NG aircraft, fitted with the new Boeing Sky Interior and the airline's revolutionary new in-flight entertainment system, to be delivered in 2011. The new aircraft will support flydubai's continued capacity and network growth and is due for delivery in December. Flydubai will issue an RFP for the airline's 2012 financing requirements in the near future.

"The problems faced by this region in the past few months have been well documented, but the overwhelming response we received to our latest request for financing shows the confidence the international markets have in Dubai and flydubai has not been dented. flydubai has experienced tremendous growth since the start of our operations in June 2009. The UAE has also seen positive growth recently, taking the country out of the shadow of the global economic crisis. Companies like MCAP, who have continued to show confidence in us and the UAE, are partly responsible for this and we thank them for their support," Ghaith Al Ghaith, CEO of flydubai, said.

"We are pleased to announce this transaction with flydubai, which has successfully laid the foundation for a valuable partnership. We are delighted to work with flydubai, the Gulf's leading airline, and expect this transaction to enhance MCAP's presence in the Middle East," Tatsuo Sato, CEO of MC Aviation Partners Inc., said.

In a related move, flydubai has taken delivery of its 17th aircraft on schedule from Boeing. At the same time the airline has taken the decision to retire the two aircraft it received in May 2009. This move ensures that a higher percentage of flydubai's fleet will be fitted with the new Sky Interior from Boeing and the revolutionary new in-flight entertainment system from Lumexis, launched in November 2010. This move takes the percentage of the fleet fitted with the IFE to more than 50 percent, and ensures customers will have a greater chance of being able to enjoy the enhanced flydubai experience while on board.

The move also ensures flydubai's fleet remains one of the newest in the industry, with the oldest aircraft in the fleet being in service for just 22 months.

The next aircraft is due for delivery later this month, with the one after that due in June.
Established in March 2008, flydubai, Dubai's first low cost airline, started operations on June 1, 2009. Based on a low cost business model, flydubai offers a value-for-money product at an extremely competitive price.

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