Kuwait’s Alafco inks air­plane leas­ing deal

Arabian Business English - - THE BIG STORY -

Kuwait-based Avi­a­tion Lease and Fi­nance Com­pany, bet­ter known as Alafco, last week signed an agree­ment with Scan­di­na­vian Air­line Sys­tems (SAS) for the lease of five new A320­neo air­craft.

The air­craft will be leased for a pe­riod of 10 years, with the first air­craft sched­uled to be de­liv­ered in April 2019, a state­ment said.

“The agree­ment gives SAS a strong cost-ef­fec­tive platform in a com­pet­i­tive mar­ket. As al­ways, we seek long term re­la­tion­ships with so­lu­tionori­ented part­ners, such as Alafco, that un­der­stands the com­plex and de­mand­ing avi­a­tion busi­ness,” said Niklas Har­dange, vice pres­i­dent SAS Fleet Man­age­ment.

The port­fo­lio of Alafco, which is listed on the Kuwait Stock Exchange, con­sists of 62 Air­bus and Boe­ing air­craft.

The A320­neo is also oper­ated by Kuwait Air­ways

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