Dhaka: The board of Kuwait-based carrier Jazeera Airways approved a USD 3.4 billion deal to purchase 28 narrow-body aircraft from Airbus in an effort to expand its fleet across markets in the Middle East and Europe.

The deal included 20 A320neos and eight A321neos, the airline said in a statement on January 30.

The board's approval follows a preliminary agreement signed by the companies at the Dubai Air show in November. They also approved an agreement to buy two CFM LEAP1-A26 spare engines in a deal valued at UDS 32.2 million.

“There is no immediate financial effect but both agreements are expected to have a positive impact in the medium and long-term,” said the airline, adding that, deliveries of the aircraft will be determined later.

In 2021, Rohit Ramachandran, CEO of Jazeera Airways, said, the new aircraft will be used for the airline's expansion in the Middle East and mainland Europe.

Jazeera Airways reported a net profit of KD 11.8m in the third quarter of 2021 on the back of higher revenue compared to a loss of KD 5.58m during the same period in 2020.

- T