Tuesday, Apr 30, 2013
(This article was originally published on Monday.)
BEIRUT (Zawya Dow Jones)--Kuwait's Aviation Lease and Finance Co. (ALAFCO.KW) said it has leased an Airbus A320 aircraft to Russia's Nordwind Airlines for six years starting this month.
The airplane's market value is $27 million and according to the general leasing rule, the monthly rent should represent 1% of its value, the shariah-compliant aircraft lessor said in a statement posted on the Kuwait bourse website on Monday.
Alafco, which is a unit of Kuwait Finance House, said in the statement that the aircraft was previously leased to the Royal Jordanian Airlines.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
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(END) Dow Jones Newswires
30-04-13 0340GMT
