Picture used for illustrative purpose only.

Air Arabia, the Sharjah-based low-cost carrier, on Monday set another milestone with one of the region’s largest single-aisle aircraft orders of the 120 Airbus A320 family aircraft, which was announced during the Dubai Airshow 2019, following a signing ceremony attended by Air Arabia’s Chairman, Sheikh Abdullah Bin Mohammed Al Thani, and CEO of Airbus, Guillaume Faury.

The deal, whose total book value exceeds $14 billion (list price), will more than triple Air Arabia’s current fleet strength, as well as support the carrier’s global network expansion strategy.

The new orders are for 73 A320neo, 27 A321neo and 20 A321XLR aircraft, all belonging to the A320 family. Delivery is scheduled to commence in 2024 and the Sharjah-based airline has yet to specify the engines to be installed on its new fleet.

Adel Al Ali, Group CEO of Air Arabia, said, "Air Arabia’s fleet growth strategy has always been driven by commercial demand and we are glad to announce one of the region’s largest single-aisle orders today, with Airbus to support our growth plans.

"This new milestone underpins not only our solid financial fundamentals but also the strength of our multi-hub growth strategy that we have adopted over the years while remaining focused on efficiency, performance and passenger experience."

Christian Scherer, Airbus Chief Commercial Officer, said, "We are delighted to expand our partnership with Air Arabia; this is a great endorsement for the A320neo family which will allow the airline to tap into new markets. We are committed to supporting the fast expansion of Air Arabia and the region."

Air Arabia’s current fleet consists of 54 Airbus A320 & A321neo-LR. While the A320neo builds on the A320 product line’s position as the world’s most advanced and fuel-efficient single-aisle aircraft family, the A321neo variant provides extended range for the A320neo family’s longest fuselage version.

Air Arabia is the first Middle Eastern airline to operate the A321neo-LR with three aircraft currently in service and another three scheduled to join the fleet in 2020.

The A321XLR further extends the single-aisle jetliner offer with service entry planned in 2023, making Air Arabia, again, one of the first owners of the aircraft.

WAM