Macquarie's aviation affiliate to buy 23 aircraft from Kuwait's ALAFCO for $1.1bln

Global aviation lessor Macquarie AirFinance on Friday said that it will buy an additional 23 aircraft from Kuwait-based ALAFCO Aviation Lease and Finance for $1.1 billion.

The purchase consists predominantly of new technology commercial passenger aircraft with an average age of approximately five years, it said in a statement.

The deal adds to Macquarie AirFinance's already existing agreement with ALAFCO to acquire 53 aircraft and an order book of 20 Boeing 737 Max for about $2.2 billion.

"The acquisition of the further 23 aircraft will help facilitate the transition of Macquarie AirFinance’s fleet to newer technology, with the addition of more fuel-efficient models to lower the average carbon emissions intensity," it said.

The deal increases the total number of aircraft that Macquarie Group's aviation affiliate intends to acquire from ALAFCO to 76.

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Varun H K)