Sharjah-based low cost carrier Air Arabia has confirmed options for five additional Airbus A320 aircraft with a book value of $485m.
The airline said the delivery of the original contract covering 44 firm orders and the five options would be completed next year.
The additions will be put into service in the second quarter of 2017.
“Today, we operate one of the youngest fleets in the world and this approach will continue to drive our fleet growth strategy for the future. Our customers can expect the same cabin comfort and spacious seat configuration with the new five aircraft joining the fleet,” said Adel Al Ali, group chief executive Officer of Air Arabia.
Air Arabia said it had the highest A320 family utilisation in the world with 99.8 per cent operational reliability.
It currently operates a fleet of 46 of the craft serving 120 destinations.
The airline recently posted a 26 per cent increase in net profit in its Q3 financial results after reporting profit declines in four of the preceding five quarters.