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.
You might also like...
Adnoc Offshore awards Upper Zakum contract
17 April 2024
Oman awards Batinah coastal road contract
17 April 2024
Oman appoints Al Khuwair Downtown project manager
17 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.