ALAFCO delivers third new A320NEO to Salam Air

The first A320neo aircraft was delivered by ALAFCO on the 31 May 2019


Kuwait: ALAFCOAviation Lease and Finance Company announced today that it has delivered the third new A320neo aircraft to Salam Air. The delivery of the third aircraft follows the agreement signed between both parties for the delivery of five new A320neo aircraft, each on 12-year lease terms. The first A320neo aircraft was delivered by ALAFCO on the 31 May 2019.

Adel. A. Albanwan, ALAFCO’s CEO commented “I am pleased and delighted to announce the delivery of our third Airbus A320neo aircraft to SalamAir. The delivery of this aircraft signifies our ongoing partnership with SalamAir, but also demonstrates our commitment to provide cost-efficient and flexible solutions to the global airline industry. The A320neo aircraft remains integral to our growth plans, and I expect to see significant upside in this aircraft in the coming years which shall continue to form the cornerstone of our strategy”

ALAFCO is a Kuwait-based aircraft leasing company and is listed on the Kuwait Stock Exchange. ALAFCO’s portfolio consists of 63 Airbus and Boeing aircraft, leased to 21 airlines in 13 countries globally. ALAFCO’s remaining order book comprises of 110 new technology aircraft from Airbus and Boeing including 56 A320neo, 10 A321neo, 4 A350XWB and 40 B737 MAX. Deliveries are scheduled to take place between 2019 and 2023. 

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