PT Garuda Indonesia is to lease eight Boeing 737-800 Next Generation (NG) aircraft from Dubai Aerospace Enterprise worth US$350 million for between 10 to 12 years.

These are new planes priced at US$45 million each, said Garuda’s Managing Director Emirsyah Satar at the World Islamic Economic Forum in Jakarta, yesterday (2/3).

It is planned that one of the planes will be delivered every month starting this June and Garuda will receive five planes this year.

Three plans will be delivered next year, said Emir.

This aircraft procurement is to strengthen Garudas domestic and regional flights.

Garuda will return the planes when the lease period ends to Dubai Aerospace and can extend the contract or rent new planes.

With this financing system, our aircraft will stay new and modern, said Emir.

Garuda will also order 50 Boeing 737 NG aircraft and 10 Boeing 777-300 Extended Range aircraft in 2009 and 2010.

These will replace old aircraft in phases.

Chief Executive Officer of Dubai Aerospace, Robert Genise, explained that the flexible leasing program was profitable for airlines.

It can support the cash flow and develop their business, said Robert. WAHYUDIN FAHMI – TEMPO Interactive, Jakarta