flydubai completes financing for all 2011 deliveries

flydubai reports that it has secured financing worth $80 million, at list prices, with aircraft leasing company, MC Aviation Partners (MCAP), for the remaining Boeing 737-800s the airline is due to receive this year.

The eight year sale-and-leaseback agreement is for flydubai’s 10th new 737-800 fitted with the Sky Interior and the airline’s revolutionary Lumexis inflight 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.

“We are pleased to add MCAP to our existing group of leasing companies, both local and international,” noted Ghaith Al Ghaith, CEO of flydubai. “Like flydubai, MCAP is a young, ambitious and dynamic company and we look forward to developing a long and mutually beneficial relationship with them.”

Tatsuo Sato, CEO of MC Aviation Partners Inc, commented, “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 and expect this transaction to enhance MCAP’s presence in the Middle East.”

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