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Jazeera, DVB and NBC launch Sahaab Leasing
03 November 2008
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Jazeera Airways
Sahaab Leasing
NBC
DVB
Marwan Boodai
Jazeera Airways is launching a new leasing company in the Middle East with the aim of becoming the world's largest narrowbody lessor by 2012.
Marwan Boodai, Jazeera chairman and chief executive officer, announced the new venture, Sahaab Leasing, at Airfinance Journal's conference in Dubai. The lessor will be based in Kuwait.
Sahaab Leasing, which will focus entirely on the Middle East region, has an initial capitalization of $375 million, consisting of three tranches. It is owned by three partners: Jazeera Airways shareholders, DVB Bank and the National Bank of Kuwait (NBK). An approach to Gulf financial institutions will be made for additional capital. Jazeera Airways will be the launch airline customer.
NBK Capital and DVB Bank are providing advisory services in establishing the company. NBK Capital...
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