Jazeera Airways' board approved a $3.4 billion deal to purchase 28 narrow-body aircraft from Airbus as the Kuwaiti carrier aims to expand its network to include long-haul routes.
The deal comprises 20 A320neos and 8 A321neos, according to a statement issued by the carrier on Sunday.
The board's approval follows a preliminary agreement inked by the companies during the Dubai Air show in November 2021.
In addition, the board approved an agreement to buy two CFM LEAP1-A26 spare engines in a deal valued at $32.2 million.
“There is no immediate financial effect but both agreements are expected to have a positive impact on the medium and long-term,” Jazeera Airways said. Actual deliveries of the aircraft will be determined at a later stage.
It's worth noting that the carrier already operates an all-Airbus fleet of original-generation A320s and eight A320neos. And it flies to over 45 popular destinations across the Middle East, Central & South Asia, Africa and Europe comprising high-demand business, leisure and weekend destinations.
The Kuwaiti budget airline, which laid off about 500 employees in 2020, reported a net profit of 11.8m Kuwaiti dinars in Q3 2021.
