Kuwaiti firm Al Sarraf & Al Ruwayeh (ASAR) has advised local airline Jazeera Airways on its US$89m acquisition of Sahaab Aircraft Leasing.

The firm acted as lead counsel on the deal, negotiating the share purchase agreement, structuring documents and conducting legal due diligence, among other matters.

Sahaab is Jazeera Airways’ private aircraft leasing arm, which it established in 2008. The acquisition will allow the Kuwaiti airline to access the global leasing market and acquire further aircraft, in line with its broader goal to gain a market share in the Middle East’s lucrative airline industry.

ASAR has a second office in Bahrain, and has a formal association with Stephenson Harwood.

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