Airblue has signed an agreement with aircraft manufacturer Airbus for the acquisition of 14 aircrafts at a cost of almost US$1 billion, the private Pakistani carrier announced on Friday.
The delivery of the new A-320s will start from July 2009 and will continue till 2013, Shahid Khaqan Abbasi, Chief Operating Officer of Airblue told a press briefing. “This will cost $910 million and dialogue has been initiated with International Finance Corporation (IFC) for securing part of the down-payment” he said, adding that multiple options were under consideration to finance the acquisitions.
About the reported listing of the airline at the stock exchange, he said the board had not yet decided in that regard. “We expect a profit of Rs 250-400 million (for fiscal 2007-08)” Abbasi said, expressing his confidence over success of the airline’s Islamabad – Manchester route started last July.
Airblue, which operates six A320 and A321 aircrafts on dry lease also intends to induct six more aircrafts on operating lease as the term of the existing fleet expires. “Pakistan needs at least 150 new generation aircrafts to cater to the market demand,” he said, linking the aviation growth in the country with complete implementation of open skies policy.
