Subscribe Free
in Air Transport

Gulf Air completes sale and leaseback of six Airbus A320neo Aircraft

Posted 15 November 2018 · Add Comment

Gulf Air and SMBC Aviation Capital have today announced a six-aircraft agreement for the purchase and leaseback of six Airbus A320neo aircraft. This is SMBC Aviation Capital’s first deal with Gulf Air and follows a competitive tender process.

 

Delivery of Gulf Air’s Airbus A320neo aircraft commenced from August 2018. The airline currently serves all its destinations with a combination wide and narrow body fleet and has orders for 39 new Boeing and Airbus aircraft with delivery having commenced in early 2018. Gulf Air’s incoming fleet will see by end-2018 the arrival of 5 Boeing 787-9 Dreamliners in addition to 1 Airbus A320neo aircraft. Alongside this, in 2018 the airline continued to enhance its product and service offering, launched six new destinations and expanded its network to serve 47 cities in 26 countries. 

Gulf Air chief executive officer, Krešimir Kučko said: “We are delighted to begin a new relationship with SMBC Aviation Capital and successfully mark the financing of our six new A320neos as we diversify our financing relationship to support aircraft acquisition. These aircraft will allow us to greatly enhance our fleet, enabling us to deliver operational efficiency and an upgraded customer experience. The upcoming deliveries of our 6 new Airbus A320neo will support the airline’s network expansion plans while affording us flexibility in our fleet planning – allowing us to transport Gulf Air passengers more seamlessly across the Gulf Air network.”

Peter Barrett, CEO, SMBC Aviation Capital added, “We are very pleased to partner with Gulf Air to assist with the airline’s ambitious fleet expansion plans.  The A320neo incorporates the latest in aviation technology to provide our airline customers with a more modern, fuel efficient aircraft.  As a new customer and our first entry into the Kingdom of Bahrain, we look forward to working alongside Gulf Air for the coming years.”

* required field

Post a comment

Other Stories
Advertisement
Latest News

Abu Dhabi Airports kicks off Safety Week

Abu Dhabi Airports has kicked off this week its annual Safety Week with a series of activities designed to increase awareness of aviation safety standards and best practices among its employees and airport stakeholders.

Emirates takes delivery of its last Boeing 777-300ER aircraft

Emirates has received the final Boeing 777-300ER aircraft on its order books.

Virgin Galactic completes historic first spaceflight

History was made yesterday as Virgin Galactic’s SpaceShipTwo, VSS Unity, landed from her maiden spaceflight.

Why Etihad turned tail on partnerships

Etihad Airways is looking closer to home for growth as it plots a new course following major problems at some of its equity partner airlines. Alan Dron reports.

MEBAA conference covers interesting and key topics

In future, business aviation will be as ubiquitous as driving a car – according to Badr Al-Olama, Head of Aerospace, Mubadala Investment Company, who delivered a dramatic vision of the sector’s future in a keynote speech at the second day

Royal Air Maroc welcomes first GEnx-powered Boeing 787-9 Aircraft

Royal Air Maroc (RAM) has received its first GEnx-1B-powered Boeing 787-9 Dreamliner aircraft. RAM will eventually operate a fleet of nine GEnx-powered B787 Dreamliners.

Boeing SK0311018051218
See us at
SaudiAirshowBT0711140319AIME19BTA3005120219Aviation Africa BT0607280219ACCA19_BT2141218280219