Air Arabia has unveiled plans to expand into new markets, as it signed a lease on six new Airbus A321neo long range aircraft in a deal valued in excess of US$2.79 billion at current list prices.
The new aircraft will be leased on an eight-year deal with US-based Air Lease Corporation (ALC). They will be added to the Sharjah-based airline’s existing fleet of 50 aircraft, based out of five regional hubs in the UAE’s Ras Al Khaimah and Sharjah as well as Morocco, Egypt and Jordan. Their eight-hour flying range will give the airline capacity to expand into new markets including South East Asia, Eastern Europe and the wider African continent.
Speaking as he signed the deal, Air Arabia Group CEO, Adel Al Ali, commented: “To expand a business, you don’t always need to order aircraft. The addition of these A321new LR aircraft allow us to expand our service to longer range destinations and helps offer more flexibility on our existing high density routes. We look forward to receiving the new aircraft in 2019 as we continue to offer our customers an excellent product with more destinations to discover.”