Market Intelligence: -Airline Aircraft Orders

Jet2 announces agreement to purchase additional 15 Airbus A321 NEO aircraft

The announcement is quoted as follows:

“The Board is pleased to announce that the Company has entered into an agreement with Airbus to purchase a further 15 new firm ordered Airbus A321 NEO aircraft. This order is in addition to the 36 firm aircraft orders, together with the flexibility to extend up to 60 aircraft, that the Company announced on 31 August 2021.  These additional 15 aircraft will be delivered between 2026 and 2029 and the terms of the agreement are substantially the same as those approved by the Board for the initial 36 firm aircraft orders.    

At current list prices these additional 15 aircraft represent a total value of approximately $2.0billion with a total transaction value, for up to 75 aircraft, of approximately $10.1billion, though the Company has negotiated significant discounts from the list price. The Company will retain flexibility in determining the most favourable method of financing the aircraft, which will be through a combination of internal resources and debt.”

Source: See Jet2 Announcement here.

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Breeze Airways to add 20 more A220-330 which makes its total order to 80

Breeze Airways has announced that it is adding 20 more Airbus A220-330 to its order.

According to a report from Reuters on September 13, Breeze will take delivery of its first A220 on the 26th of October and consequently to take delivery of the 80 aircraft at one per month over the next six and a half years.

For more information, kindly contact Breeze Airways.

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‘Fly Arna’ will be Armenia’s national airline, brought about by the joint venture between Armenian National Interests Fund (ANIF) and Air Arabia Group

Air Arabia Group, in its press release on the 1st of September, announced that the new national airline to be launched by their joint venture company with Armenian National Interests Fund (ANIF) will be named ‘Fly Arna’.

The name was chosen by the Board of Directors of the joint venture company from over 500 suggestions received in response to the ‘Name the Airline’ competition announced in July 2021. Following a comprehensive review, the name of the airline was chosen as ‘Fly Arna’ – with the word ‘Arna’ being derived from the name “Armenian National Airlines” by combining the first two letters of the words “ARmenian” with the first letter of “National” and the first letter of “Airlines”. The competition aimed to engage the citizens of Armenia to participate in naming their new national airline reflecting the commitment of ANIF and Air Arabia Group to promote stakeholder participation.

“I thank everyone for the active participation in the contest. It is both inspiring and a sign of a shared vision of a successful endeavour we all aspire for the project,” said David Papazian, CEO of ANIF. “Despite the current challenges of the pandemic, we are confident of the new opportunity that exists for “Fly Arna” to deliver a winning proposition that will benefit the nation and our people.”

Adel Al Ali, Group Chief Executive Officer of Air Arabia, said: “The new name represents the aspirations of the people of Armenia and is the result of a national competition, underlining how the joint venture company prioritises the interests of the community. “Fly Arna” will mark the beginning of a new era for Armenia’s aviation sector, and also create significant value to the economy by boosting the tourism, hospitality and business sectors.”

More than 800 participants suggested the 500 names via email and on ANIF’s social media pages. The name was chosen to be most inclusive and reflecting the spirit of the joint venture company to transform the aviation sector of the country.

“Fly Arna” will operate as a low-cost passenger airline with Yerevan’s Zvartnots International Airport (EVN) as its base. The company will apply for the Airline Operation Certificate in the coming weeks. More details about the launch date, fleet, and destination network will be announced in due course.

ANIF and Air Arabia Group had announced the agreement to launch Armenia’s new national airline in July 2021.

For more information, kindly contact Air Arabia Group.

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Lakson Group and Air Arabia forms joint venture to launch “Fly Jinnah” – Pakistan’s new airline!

Air Arabia, in its press release on the 5th of September, announced that it will be forming a new joint venture with Lakson Group, one of Pakistan’s leading business conglomerates, to establish “Fly Jinnah” – a low-cost passenger airline serving domestic and international routes from Pakistan.

“Fly Jinnah” will serve the strategic vision of Pakistan’s travel and tourism sector and contribute to the country’s economic growth and job creation, while providing Pakistanis with reliable and value for money air travel.

Iqbal Ali Lakhani, Chairman of Lakson Group, said: “We are excited to partner with Air Arabia in launching Pakistan’s new low-cost carrier. “Fly Jinnah” will serve Pakistan’s travel and tourism sector and will play a constructive role in contributing to the nation’s economic growth.” He added: “This partnership also reflects our commitment to support the development of Pakistan’s air transport sector while providing the citizens and visitors of the country with a new option of value for money air travel.  Air Arabia enjoys a track-record of reliable and efficient operations, and we look forward to working closely towards launching and developing the new airline.”

Sheikh Abdullah Bin Mohammed Al Thani, Chairman of Air Arabia, said: “We are delighted at Air Arabia Group to partner with Lakson Group on this joint venture to launch Pakistan’s new low-cost carrier. We are confident that “Fly Jinnah” will add value to the air transport sector of Pakistan and directly contribute to the local economy through job creation and the development of travel and tourism sector. We thank Lakson Group and the Government of Pakistan for their trust and we look forward to working hand in hand to develop the new airline, which will serve as a new value-for-money air travel option for the country.”

“Fly Jinnah” will initially be based in Karachi serving a range of domestic routes across Pakistan and then will expand its route network internationally. The new carrier will follow the low-cost business model and provide its customer base with a reliable operation and value-driven product.

Work on securing the Air Operating Certificate (AOC) – which allows the airline to start operating – will commence shortly. More details about the launch date, fleet, and destination network will be announced in due course.

According to IATA, the air transport industry, including airlines and its supply chain along with the tourism spend are estimated to support US$3.3 billion of GDP in Pakistan. In total, 1 percent of the country’s GDP is supported by inputs to the air transport sector and foreign tourists arriving by air.

For more information, kindly contact Air Arabia or Lakson Group.

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Jet2 plc to purchase 36 new Airbus A321 neo aircraft with a flexibility to extend up to 60 aircraft

Jet2 plc announced through its website the delivery of these new firm-ordered aircraft that will stretch until 2028. In total, it represents a value of approximately $4.9billion and would reach approximately $8.1billion if the airline opt to proceed to up to 60 aircraft.

Jet2 plc said that it is flexible in looking for the most favourable method of financing the ordered Airbus aircraft which is through a combination of internal resources and debt.

For more information, kindly contact Jet2 plc.

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