The airline said the asking price for the deal is $3.36 billion.
The deal was signed on the second day of the week-long Dubai Airshow, an event that sees a flurry of orders for commercial aircraft and other aviation-related orders.
CFM is owned by GE and the French Safran Group.
On Monday, Air Arabia announced record financial and operational results during the third quarter and the first nine months ending on September 30, 2023.
The company recorded record net profits, considered the best in its history, during the first nine months ending on September 30, 2023, amounting to 1.32 billion dirhams, an increase of 53 percent compared to the same period last year, and the company’s revenues during the same period increased by 16 percent, reaching 4.45 billion dirhams.
During the third quarter alone, Air Arabia recorded record net profits of 522 million dirhams, an increase of 26 percent compared to the same period last year, supported by strong revenues recorded by the company during the third quarter, amounting to 1.63 billion dirhams.
A statement from the company stated that the strong performance of the “Air Arabia” group during the third quarter was supported by increased demand for air travel and cost control measures.
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