Gulf Air Agrees A320neo Sale And Leaseback

Gulf Air has completed a sale and leaseback agreement with SMBC Aviation Capital for six Airbus A320neo aircraft.

Bahrain-based Gulf Air has 12 A320neos on order, with the first already in service. The SMBC deal is for the first six of the order.

“We are delighted to begin a new relationship with SMBC Aviation Capital and successfully mark the financing of our six new A320neos as we diversify our financing relationship to support aircraft acquisition,” Gulf Air chief executive Krešimir Kučko said.

“The upcoming deliveries of our six new Airbus A320neos will support the airline’s network expansion plans while affording us flexibility in our fleet planning.”

Gulf Air has orders for 39 new Boeing and Airbus aircraft, with five Boeing 787-9 Dreamliners due for delivery by the end of the year, in addition to the already delivered A320neo.