FlyDubai agrees $320m 737 financing deal from GECAS

The sale and leaseback agreement covers the aircraft that the airline expects to take delivery of during 2009.  Two this month, one in October and the fourth in December.

FlyDubai CEO Ghaith Al Ghaith, said:  “This is a significant deal for FlyDubai as it is the first financing that we have secured from outside the UAE. This deal ensures our financing needs for the rest of 2009 when we will receive a further four aircraft from Boeing. This will bring our fleet to a total of six aircraft by the end of the year and allow FlyDubai to operate to around 14 destinations.”