Saudi Arabian Airlines Sued Over Unpaid Rent Dues

Saudi Arabian Airlines is looking at a lawsuit over unpaid rent and maintenance dues over 50 Airbus aircraft in its fleet from its lessor.

The charges, filed by ALIF Segregated Portfolio Firm, seeks to reclaim $460 million from Saudi Arabian Airways, in line with London’s Excessive Courtroom paperwork, as reported by Reuters. As well as, the lessor is seeking to recoup damages and prices from the Saudi Arabian flag provider. Via the lessor, it acquired 50 Airbus plane, specifically 30 Airbus A320neo and 20 Airbus A330 jets.

The corporate claims that after Saudi Arabian Airways had failed to barter its funds, the airline stopped paying primary lease and carried out unauthorized engine and half swaps.

“We’re presently in discussions with the lessor to resolve contractual variations, and we imagine that widespread sense will prevail ultimately,” the Jeddah-based provider instructed Reuters.

ALIF and Saudi Arabian Airways got here to an settlement for the previous to finance the 50 plane in the course of the Paris Air Present in 2015. On the time, the order was valued at $8.2 billion at record costs and was the record-breaking financing deal secured by way of sharia-compliant financing.

ALIF is the subsidiary of Worldwide Airfinance Company (IAFC), a Dubai-based plane leasing firm that bought the 50 aforementioned plane.

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