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Jazeera Airways aims to get $2 billion from banks

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The chairman of Kuwait-based Jazeera Airways told Reuters that the airline hopes to acquire up to $2 billion in funding from commercial banks to cover 70% of a contract it has with Airbus to buy 28 Airbus A320neo family narrow-body passenger aircraft.

The money will be used by the airline to further its fleet upgrade plan, which calls for adding 20 more Airbus A320neo and eight more A321neo aircraft to its present fleet. The planes should help the airline’s network in the Middle East, Asia, and Europe expand.

Jazeera intends to run a monogamous 35-jet Airbus fleet once the additional aircraft have arrived.

According to statistics from Planespotters.com, the airline now operates 19 aircraft, including eight A320-200s and eleven A320neos.

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