Kuwait's Aviation Lease and Finance Company (ALAFCO) has announced that it has renewed all aircraft leasing contacts that were to expire in 2009. ALAFCO's Chairman and CEO Ahmad Abdulla Al-Zabin said in a press release that the company renewed contracts of two of three planes leased to ChinaEastern Airlines, while the third plane was leased to Ethiopian Airlines. Meanwhile ALAFCO said that it received intitial approval from ECS to finance the purchase of 18 out of 20 Airbus and Boeing planes for 2009.