Emirates says new airline to lease, buy planes

DUBAI, March 18 (Reuters) - Dubai's new low cost-carrier plans to lease or buy single-aisle aircraft and will begin operations within a year, Emirates [EMAIR.UL] chairman said on Tuesday.

"There is a need for it in the region," Shaikh Ahmed bin Saaed al-Maktoum told Reuters by telephone, adding that it will fly to destinations between four to four and half hours away from Dubai.

The new airline will operate under Emirates, the official state news agency said.

The airline will look to lease or buy planes such as Boeing Co 737s or Airbus 320s, he said. "We are looking at the market." (Reporting by James Cordahi; Editing by Inal Ersan)