ALAFCO inks deal to lease A320s to Scan­di­na­vian air­line

ALAFCO signs an agree­ment with Scan­di­na­vian Air­line Sys­tems for the lease of five new A320­neo air­craft

Aviation Business - - CONTENTS -

Kuwait-based Avi­a­tion Lease and Fi­nance Com­pany, bet­ter known as ALAFCO, has 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.

“We are very pleased to have ALAFCO as a part­ner. The agree­ment gives SAS a strong cost-ef­fec­tive plat­form in a com­pet­i­tive mar­ket. As al­ways, we seek longterm re­la­tion­ships with so­lu­tion-ori­ented part­ners, such as ALAFCO, that un­der- stands the com­plex and de­mand­ing avi­a­tion busi­ness,” said Nik­las Har­dange, vice pres­i­dent SAS Fleet Man­age­ment.

“This agree­ment sig­ni­fies the start of a long-term strate­gic part­ner­ship with SAS, a glob­ally rec­og­nized op­er­a­tor. The lease of the five A320­neo air­craft is an­other ex­am­ple of ALAFCO’s con­tin­ued ef­forts to source new cus­tomers and deepen our re­la­tion­ships across the in­dus­try,” added Ah­mad A Alz­abin, ALAFCO’s vice chair­man and CEO.

The port­fo­lio of ALAFCO, which is listed on the Kuwait Stock Ex­change, con­sists of 62 Air­bus and Boe­ing air- craft, leased to 20 air­lines in 13 coun­tries. Its re­main­ing or­der book com­prises 87 new air­craft from Air­bus and Boe­ing in­clud­ing 43 A320­neo, 10 A321­neo and 34 B737 MAX.

De­liv­er­ies are sched­uled to take place be­tween 2018 and 2023.

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