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AIRSHOW-UAE's FlyDubai secures $160 mln financing

Mon Nov 16, 2009 1:04am EST

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DUBAI, Nov 16 (Reuters) - United Arab Emirates low-cost carrier FlyDubai said on Monday it had secured $160 million financing for two aircraft it received in May. The financing for the two Boeing 737s includes an $80 million sale and lease back agreement with Macquarie Air Financing and an $80 million ijara agreement with Dubai Islamic Bank DISB.DU.

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The budget carrier said the latest financing ensures that all six aircraft FlyDubai will have this year are permanently financed.

In July, FlyDubai secured $320 million financing with General Electric's (GE.N) Capital Aviation Services unit for four Boeing 737 aircraft.

On Monday, the Dubai-government owned carrier -- which ordered 54 Boeing single-aisle 737 aircraft in a deal worth around $4 billion in November 2008 -- chose Goodrich Corp (GR.N) to supply carbon brakes for its new fleet. [ID:nWNAB6074]

(Reporting by Tamara Walid; Editing by xx)

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