ALAFCO Kuwait: Purchase of Airbus Aircrafts

Kuwait’s Aviation Lease and Finance Company KSCC (ALAFCO), which offers aircraft leasing in Gulf, announced the signature of a US$ 4.6 billion contract with Airbus to purchase 50 A320neo aircrafts. The company also took out options, which are to be finalized this year, for the purchase of 30 additional planes. According to newswires, the aircrafts would be delivered between 2017 and 2021.

Established in 1992, Alafco is a Sharia-based commercial aircraft leasing products provider. Its main activities include: operating leases, sale and leasebacks, aircraft and aircraft lease management.

Headquartered in Toulouse, Airbus is owned by EADS, a global leader in aerospace, defence and related services. The company has fully-owned subsidiaries in the United States, China, Japan and in the Middle East, spare parts centers in Hamburg, Frankfurt, Washington, Beijing and Singapore, training centers in Toulouse, Miami, Hamburg and Beijing and more than 150 field service offices around the world.

The article above has been published as a part of Bank Audi`s MENA Weekly Monitor of Week 47 (2011). It can be accessed via Internet at the following web address: http://www.banqueaudi.com