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KUWAIT CITY: Kuwait's Aviation Lease and Finance Company (ALAFCO) has signed a deal to buy six Airbus A320 aircraft at a cost of $300 million, the company chairman announced yesterday.
Ahmad Al Zabin said in statements quoted by the Kuna news agency that delivery of the planes will start in 2009.
During the Dubai air show last year, ALAFCO ordered 12 Airbus A350-800 aircraft valued at around $2 billion, with an option for six more.
The company, which was listed on the Kuwait bourse last month, is planning to increase its fleet to 80 aircraft by 2015, up from the current 18.
Al Zabin said last month the company's fleet will increase by 10 aircraft next year. ALAFCO is also managing 15 leased planes in favour of other owners.
Jointly owned by Kuwait Finance House (KFH), the emirate's leading Islamic bank, and the state-owned Kuwait Airways Corp (KAC), the company has long-term lease contracts with nine international companies including Indian, Chinese and Yemeni airlines. |
