(MENAFN) Kuwait-based Jazeera Airways Group could secure an aircraft refinancing facility worth USD18.3 million through an Arab bank, according to Arabian Business.
The Kuwaiti airline plans to use the proceeds to close an existing facility through a French corporate and investment bank, resulting in a reduction of the company's debt financing charges.
Jazeera Airways Group chairman, Marwan Boodai, said: "The improving debt markets have given us the opportunity to lower our cost of debt, enabling us to deploy an even better capital structure and a stronger balance sheet to support the Group's operations and strategic growth prospects."
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