New Dominican carrier Arajet orders 20 Boeing 737 MAX jets
Dominican Republic-based Arajet will expand its fleet by adding 20 Boeing 737 MAX 8 aircraft.
In addition, the new ultra-low-cost carrier has options to purchase an additional 15 Boeing 737 MAXs, which “along with existing lease agreements, could take the airline's new fuel-efficient fleet to 40 airplanes”.
"The efficient Boeing 737 MAX, together with financial and operational support from our partners at Griffin and Bain Capital, gives us the solid foundation necessary to provide flights at affordable prices to travelers in the region," Victor Pacheco, founder and CEO of Arajet, announced in a statement.
The airline’s first Boeing 737 MAX 8, registered HI1026, was leased from Griffin Global Asset Management, and arrived in early March 2022.
Arajet is expected to launch operations from Las Americas International Airport (SDQ) with flights to the Caribbean islands and Central America starting spring 2022. The carrier also plans to add flights to key North American destinations, including New York, Boston, Miami, and Chicago.
“The Dominican Republican and the wider Caribbean region are underserved by low-cost airlines and passengers deserve a more affordable way to travel in our market. We believe Arajet is well-positioned to transform the Santo Domingo Airport into a modern, new hub for destination and connecting traffic,” Pacheco announced in a press release dated March 14, 2022.
The airline will be led by Victor Pacheco and Mike Powell, former chief financial officer of Wizz Air. Arajet is financially supported by aviation investors Bain Capital Special Situations and Griffin Global Asset Management. The airline is also backed by the Dominican government and Vinci Airports.
The airline claims to be the first to adopt a ULCC business model in the Caribbean market.
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