Aviation
Air Arabia Orders 120 Airbus A320s in $14 Billion Blockbuster

(Bloomberg) –Air Arabia PJSC ordered 120 Airbus SE narrow-body jets worth about $14 billion at list prices, as the European planemaker scored its second blockbuster order of the day at the Dubai Airshow.
The agreement includes 73 of the flagship A320neo, with a mix of the larger A321neo and long-distance A321XLR variants making up the remainder. Air Arabia is already an Airbus operator.
“The A321 is a game-changer for Air Arabia’s business,” Chief Executive Officer Adel Ali told reporters. He said the planes would allow the discount airline to expand in southeast Asia and Africa.
Read: Once-mighty Gulf Airlines turn to budget allies for growth
The company is also working on a joint-venture plan with Etihad Airways, which it expects to become operational by the second quarter of 2020.
Bloomberg reported on Oct. 31 that Airbus was working to pin down the order. Earlier Monday, Airbus locked down a $16 billion wide-body order with long-distanced carrier Emirates.
Ali told Bloomberg in February that he was considering a triple-digit jet deal with Airbus or Boeing to add destinations in Southeast Asia, Australia, Africa and Europe. The company already ranks as the biggest discount carrier in the Gulf and North Africa.
A jet purchase would potentially help the Sharjah-based airline establish the planned jointly owned carrier, Air Arabia Abu Dhabi, announced last month. Etihad is paring orders and shrinking its own network after racking up almost $5 billion in losses over three years.
Air Arabia operates a multi-hub business with bases in Morocco and Egypt, as well as Sharjah and Ras Al Khaimah in the United Arab Emirates. It has a fleet of about 50 A320 aircraft together with a handful of leased A321neos.
-
Automotive2 months ago
South Korea Plans to Support Auto Sector with US$2B Following US Tariffs
-
News2 months ago
Aligning HR Strategies with Oman Vision 2040: A Roadmap for Organisational Growth – OER Business Summit 2025
-
News2 months ago
Oman Oil Prices Witness Drop Amid Shifting Global Trade Dynamics
-
OER Magazines1 month ago
OER, April 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, April 25
-
Renewables2 weeks ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Banking & Finance2 months ago
Sohar International Bank SAOG Announces Intention to Merge with Ahli Bank SAOG
-
Banking & Finance2 months ago
Bank Nizwa Signs MoU with Ministry of Endowments and Religious Affairs to Enhance Endowment Management & Islamic Finance Frameworks