Air Algérie (AH, Algiers) has secured financing from the country's state-owned national investment fund (Fonds National d'Investissement - FNI), for its fleet renewal plans, which include orders for 15 aircraft, including eight B737-9 MAX, five A330-900Ns and two A350-1000s ordered from the respective OEMs earlier this year.

According to a statement, the FNI and the airline signed a resource credit agreement on July 3 for the acquisition of the aircraft. Neither the sum of money to be advanced, nor the transaction terms were disclosed.

Initially announced in May, the national carrier last month confirmed its order with Boeing (BOE, Washington National) also announcing it had signed a Memorandum of Understanding (MoU) for two B737-800(BCF)s. Deliveries of the passenger jets are to start in 2027.

It also signed a firm order with Airbus (AIB, Toulouse Blagnac) for the seven widebodies, with deliveries to commence in the second half of 2025 (four in 2025 and three in 2026).

The state-owned carrier had also sought to dry-lease four General Electric A330-200/-300s and two A330-900s, alongside two B737-900s and two MAX 9s. Bids for this round were opened earlier this week.