The delivery of the second aircraft follows the agreement signed between both parties for the delivery of five new A320neo aircraft, each on 12-year terms. The first A320neo aircraft was delivered by ALAFCO on the 31 May 2019.
Adel. A. Albanwan, ALAFCO’s CEO commented “I am pleased to announce the delivery of a new A320neo aircraft to Salam Air. This delivery follows on from our agreement to lease five new A320neo aircraft, with the first of these aircraft delivered in May 2019. We are pleased to have Salam Air as our partners and are keen to develop and build upon our long-term strategic partnership going forward. Our agreement with Salam Air signifies ALAFCO’s continued efforts in providing flexible and cost-efficient leasing solutions to the global airline industry”.
ALAFCO is a Kuwait-based aircraft leasing company and is listed on the Kuwait Stock Exchange. ALAFCO’s portfolio consists of 68 Airbus and Boeing aircraft, leased to 21 airlines in 15 countries globally. ALAFCO’s remaining order book comprises of 84 new technology aircraft from Airbus and Boeing including 38 A320neo, 10 A321neo, 4 A350XWB and 32 B737 MAX. Deliveries are scheduled to take place between 2019 and 2023.