flydubai, Dubai's budget airline, has announced that it has inked a $320 million (Dh1.2 billion) sale and lease agreement with GE Capital Aviation Services (Gecas) to finance four aircraft by the end of this year.

The sources said that the aircraft will be Boeing 737s and will bring the total flydubai fleet to six by the end of 2009.

The extra aircraft mean flydubai will be able to establish new routes and operate to at least 14 destinations by the year's end.

The sources further added that the two aircraft will come in July, one in October and the final one in December.

The deal is also important as it is flydubai's first funding from outside the UAE.