Alafco agrees dividend for investors

02 January 2008
Aviation Lease and Finance Company (Alafco) has agreed a 5 per cent cash dividend of 5 fils per share at its annual general meeting.

The Kuwait-based aircraft leasing company increased its available capital to KD65.5m ($240m) from KD62.4 ($229m) during the 2006-7 financial year and will also hand out 5 percent of this to stockholders as bonus shares.

The company’s net profits rose 11 per cent to KD9.13m ($34m).

Alafco is in confident mood, recently announcing plans to purchase over 80 planes within a decade at an estimated cost of $7bn, increasing its fleet to 100 aircraft. The new planes will include 22 Boeing 787 Dreamliners.

Most of the new aircraft have already been allocated to international carriers, including Royal Jordanian and Yemen Airways.

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