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Jazeera Airways inks deal to sell engine at $9m

Jazeera Airways inks deal to sell engine at $9m
The financial impact will reflect on FY19 statements
-0.40% 1,005.00 -4.00

Mubasher: Boursa Kuwait-listed Jazeera Airways has signed an agreement with a company specialised in owning, leasing, and re-leasing of aircraft engines to sell its “CFM 56-5B" engine at a total value of $9 million (KWD 2.7 million).

Jazeera Airways further added that it will lease the engine back

The company noted that the estimated profit is $3 million ($911,000) which will be registered in the annual audited financial statements for the fiscal year ended on 31 December 2019, according to the disclosure of Jazeera Airways to Boursa Kuwait on Tuesday.