Photo: An Israir Airbus A320-200 / Per aspera ad Astra, Wikimedia Commons / CC BY-SA 3.0
By: JBizNews Desk 🌎
Israir is buying one of the Airbus A320 jets it already flies under lease, paying $17.05 million for the aircraft, Calcalist reported. The Israeli airline expects the purchase to close in November. Because the plane is already in its fleet, the deal adds no capacity – it swaps a lease payment for ownership.
Israir estimates the purchase will save about $3 million a year in cash flow and improve annual profit by up to $1 million, according to the report. The company plans to fund the deal from its own resources and bank financing.
The airline has said it aims to grow its fleet and passenger numbers by 2030; those figures are targets, not current levels. The purchase is separate from the takeover talks surrounding rival Arkia.
JBizNews Desk | Tel Aviv
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