Jazeera Airways Buys Sahaab Aircraft Leasing

The acquisition of Sahaab gives Jazeera a way to achieve its strategic vertical integration initiatives set for 2010 and 2011, which include airline acquisition plans and access to global leasing markets. Marwan Boodai, Jazeera Airways chairman, said “As a result of this acquisition, Jazeera Airways will now be even more strongly capitalized to pursue its strategic aspirations, regardless of any prevailing market environment.” The acquisition is expected to be complete by March 31st, 2010.