Flydubai has taken delivery of the first of three Boeing 737-800 aircraft financed through a $117.5 million loan agreement with the US Export-Import Bank of the United States.
The delivery increases Flydubai's fleet size to 26 aircraft in operation. The next two aircraft will arrive in November and December. By the end of 2012, the airline will have 28 aircraft.
The move allows Flydubai to diversify its financing. The carrier has primarily financed its fleet primarily through sale and leaseback agreements during the past three years.
Chief executive officer, Ghaith Al Ghaith, says: "This landmark agreement with Ex-Im Bank is further proof of flydubai's continued achievements. In our short history we have already achieved a great deal but what is truly exciting for us is that we have only just begun."