flydubai have signed a sale and leaseback (SLB) agreement with Standard Chartered, a British banking and financial services company, for five Boeing 737 MAX planes.
Following terms of the recently signed deal, which was officially announced by the airline on May 24, 2022, flydubai has already taken the delivery of four Boeing 737 MAXs between March and May 2022.
flydubai is awaiting the arrival of the final aircraft, which is due to join the carrier before the end of the first half of 2022. According to a statement from the carrier, the SLB agreement between flydubai and Standard Chartered reflects the Dubai-based carrier’s ambitious fleet expansion plans.
“We are pleased to have received Standard Chartered’s support on this transaction which builds on previous aircraft financing and leasing agreements. We continue to diversify our sources of funding and attract reliable partners in support of our future growth plans. We look forward to working with Standard Chartered again in the future,” flydubai chief executive, Ghaith Al Ghaith said.
The airline has shown strong financial performance so far. In its most recent financial update, flydubai has reported operating 19,000 flights and recorded a significant 114% jump in the number of passengers carried during the first quarter of 2022 compared to the same period in 2021. The airline serves more than 100 destinations across 50 countries in Africa, Asia, the Middle East, Europe, and India.
According to Planespotters.com data, flydubai currently operates a monogamous fleet of Boeing 737 family jets, including 33 Boeing 737-800s, 28 737 MAX 8s, and three 737 MAX 9 planes.
However, it aims to grow its fleet by an additional 18 planes by the end of 2022. With the arrival of five new 737 MAXs, flydubai will operate a total of 65 aircraft.