Come fly with me! Well, that's the hope for Flydubai. The low-cost carrier has signed an agreement with Standard Chartered for the sale and leaseback of five new Boeing 737 MAX aircraft. Four of the passenger jets were already delivered between March and May 2022. The last aircraft is scheduled for delivery before the end of June 2022. The sale and leaseback deal with the bank is expected to support the airline’s growth strategy as it looks to expand its fleet, according to a statement on Tuesday. Flydubai is the second-largest carrier operating from Dubai International airport.
Meanwhile, Air Arabia announced profits of $80m for the first quarter of 2022, while Emirates is cash-positive again and has a strong balance sheet (as explained by its president Tim Clark).
Why it matters
UAE carriers are seeing a travel recovery, with both low-cost and major carriers reporting blockbuster revenue numbers.