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Manama, Kingdom of Bahrain: The Kingdom of Bahrain’s national carrier, Gulf Air, and SMBC Aviation Capital, one of the world's largest aircraft leasing companies, have today announced a six-aircraft agreement for the purchase and leaseback of six Airbus A320neo aircraft. This is SMBC Aviation Capital’s first deal with Gulf Air and follows a competitive tender process.
Delivery of Gulf Air’s Airbus A320neo aircraft commenced from August 2018. The airline currently serves all its destinations with a combination wide and narrow body fleet and has orders for 39 new Boeing and Airbus aircraft with delivery having commenced in early 2018. Gulf Air’s incoming fleet will see by end-2018 the arrival of 5 Boeing 787-9 Dreamliners in addition to 1 Airbus A320neo aircraft. Alongside this, in 2018 the airline continued to enhance its product and service offering, launched six new destinations and expanded its network to serve 47 cities in 26 countries.
Gulf Air Chief Executive Officer, Krešimir Kučko said, “We are delighted to begin a new relationship with SMBC Aviation Capital and successfully mark the financing of our six new A320neos as we diversify our financing relationship to support aircraft acquisition. These aircraft will allow us to greatly enhance our fleet, enabling us to deliver operational efficiency and an upgraded customer experience. The upcoming deliveries of our 6 new Airbus A320neo will support the airline’s network expansion plans while affording us flexibility in our fleet planning – allowing us to transport Gulf Air passengers more seamlessly across the Gulf Air network.”
Peter Barrett, CEO, SMBC Aviation Capital added, “We are very pleased to partner with Gulf Air to assist with the airline’s ambitious fleet expansion plans. The A320neo incorporates the latest in aviation technology to provide our airline customers with a more modern, fuel efficient aircraft. As a new customer and our first entry into the Kingdom of Bahrain, we look forward to working alongside Gulf Air for the coming years.”
SMBC Aviation Capital currently has 20 A320neos in its portfolio and an order book of 129 A320neos.
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About Gulf Air
Gulf Air, the national carrier of the Kingdom of Bahrain, commenced operations in 1950, becoming one of the first commercial airlines established in the Middle East. Today, Gulf Air is a major international carrier which, in 2018, will serve 47 cities in 26 countries.
The airline operates double daily flights or more to 10 regional cities, in addition to select destinations in the Indian Subcontinent and Europe, from its hub at Bahrain International Airport. Gulf Air currently serves all its destinations with a combination wide and narrow body fleet and has orders for 39 new Boeing and Airbus aircraft due for delivery commencing in early 2018. Gulf Air’s incoming fleet will see by end-2018 the arrival of 5 Boeing 787-9 Dreamliners and 1 Airbus A320neo aircraft. The modern fleet will herald a new era for Gulf Air as it continues to enhance its product and service offering. Renowned for its traditional Arabian hospitality, evidenced by the airline’s signature family and business friendly products, Gulf Air is committed to being an industry leader and developing products and services that reflect the evolving needs and aspirations of its passengers.
Gulf Air connects Bahrain to the world and, as such, is a key national infrastructure asset, serving as a powerful driver for the economy and supporting the Kingdom’s on-going economic growth.
Gulf Air has been the Title Sponsor of the FORMULA 1 GULF AIR BAHRAIN GRAND PRIX ever since it made history as the first Formula 1 Grand Prix to be held in the Middle East in 2004. In addition, the airline has been Official Carrier of the biennial Bahrain International Airshow since it was first held in 2010.
For media enquiries, please contact:
Talal Ahmed Almahmood
Manager Corporate Communications
Gulf Air Tel: +973 17338192 / +973 39188390
Email: talal.almahmood@gulfair.com
About SMBC Aviation Capital
SMBC Aviation Capital is one of the world’s leading aircraft lessors, with c. 100 airline customers in 42 countries. At 31 March 2018, the company owns, manages and is committed to purchase 670 aircraft. Established in 2001, the company was acquired in 2012 by a consortium comprising of two of Japan’s biggest companies SMBC and Sumitomo Corporation. For further information go to https://www.smbc.aero/
For more information, please contact:
Orla Benson, SMBC Aviation Capital, Mobile: 00 353 86 047 4343
Ben Griffiths, Powerscourt: +44 7753 464 637
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