Kuwait leasing firm increases fleet to 80 aircraft

Kuwait City: Kuwait's Aviation Lease and Finance Company (ALAFCO) is planning to increase its fleet to 80 aircraft by 2015, up from the current 18, the company chairman said Sunday.
During Dubai air show last year, ALAFCO ordered 12 Airbus A350-800 aircraft valued at around $2 billion, with an option for six more.
"We also intend to order another 40 smaller aircraft of Airbus A-320 and Boeing 737 over the next nine years," ALAFCO chairman Ahmad Al Zabin told a press conference held to announce the listing of the company on the Kuwait bourse. Jointly owned by Kuwait Finance House (KFH), the emirate's leading Islamic bank, and the state-owned Kuwait Airways Corp (KAC), the company has long-term lease contracts with nine international companies including Indian, Chinese and Yemeni airlines.
02/10/06 AFP/Middle East Times, Egypt

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