Adel A. Albanwan, CEO of ALAFCO commented “I am delighted to announce the successful completion of the sale of three new A320neo aircraft to ACG. This marks our inaugural transaction with ACG, a trusted leader in aviation leasing, and we hope to continue to build our partnership in the future. As part of our five-year strategic plan, these aircraft were earmarked for sale, and I am immensely proud to see the ongoing progress towards achieving our strategic objectives by successfully closing this transaction”.
Carter White, Senior Vice President and Head of Trading at ACG commented “ACG greatly appreciates the trust ALAFCO has placed in us to deliver this solution to them and look forward to future opportunities with the company. ACG is also very proud to welcome SalamAir as a new customer and look forward to future collaboration with the airline as their fleet planning requirements evolve. The aircraft trading channel is a key component to our growth strategy, whereby ACG will continue to source and acquire attractive aircraft on-lease to airlines throughout the world.”
ALAFCO is a Kuwait-based aircraft leasing company and is listed on the Kuwait Stock Exchange. ALAFCO’s portfolio consists of 62 Airbus and Boeing aircraft, leased to 21 airlines in 13 countries across Europe, Asia, Africa, Latin America and the Middle East. ALAFCO’s remaining order book comprises of 108 new technology aircraft from Airbus and Boeing including 54 A320neo, 10 A321neo, 4 A350XWB and 40 B737 MAX. Deliveries are scheduled to take place between 2019 and 2023.