Mubasher: The board of Jazeera Airways has approved a sale and leaseback transactions relating to CFM 56-5B, according to a bourse statement released on Thursday.

The board also changed support service provider for A320 NEO aircraft as of 1 January 2020 and CEO aircraft as of 1 January 2021.

“Details of the sale and leaseback will be provided when a final agreement is signed,” Jazeera Airways said.

Moreover, the change of the support service provider is expected to have a positive impact on the airline’s financials in the coming years and save 20% of the company’s costs.

Earlier in December, Jazeera Airways received its fourth Airbus A320neo aircraft.