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Dubai: Budget airline Air Arabia put an end to months of speculation and named Airbus the $3.5 billion winner of its fleet order.
The Sharjah-based carrier placed a firm order for 34 A320s with options for 15 more. By choosing Airbus, Air Arabia opted to stay with the A320 family which currently makes up its fleet of 11 leased aircraft.
The deal will more than triple the size of Air Arabia's fleet and drive it closer to achieving a goal of 50 aircraft by 2015. The order did not specify which engine would be used.
Shaikh Abdullah Bin Mohammad Al Thani, Air Arabia chairman, said the purchase would also help the airline become 'one of the world's leading low-cost carriers in terms of profit margins, innovation, reputation and operational excellence'
Air Arabia will take delivery of the aircraft starting in 2012, meaning it will have to lease an average of four additional aircraft until it receives the new planes.
The carrier recently announced the purchase of a stake in a Moroccan budget airline and the installation of Air Arabia's second hub in Rabat.
Air Arabia CEO Adel Ali said the 49-aircraft order was made to sustain the growth out of its Sharjah hub and not to build a fleet for other hubs.
Ali said details have not yet been finalised on how much of a stake Air Arabia will ultimately take in the Moroccan carrier, and whether the airline will fly with the Air Arabia livery.
He, however, said it would cater primarily to its domestic Moroccan market.
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