Kuwait's Alfaco signs Airbus deal

15 November 2011

Leasing and finance firm has ordered 50 aircraft

Kuwait-based aviation leasing and finance company Alafco has signed a $4.6bn order for 50 Airbus A320neo aircraft.

The deal, which was signed during the Dubai Airshow, also includes options for 30 additional planes. The options will be finalised by the end of the year, says Ahmed al-Zabin, chairman of Alafco. The aircraft will be delivered between 2017 and 2021.

“The A320neo is the market’s favourite single-aisle aircraft family,” al-Zabin says. “The significant fuel savings it offers, combined with the operational reliability and cost effectiveness of the A320 family, make it an absolute must-have in our portfolio to meet the demand and the requirements of our customers.”

The A320neo offers a 15 per cent reduction in fuel costs.

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.