ALAFCO signs agreement to lease five A320neo to SAS (Scandinavian Airline Systems)

ALAFCO is a Kuwait-based aircraft leasing company and is listed on the Kuwait Stock Exchange.


Kuwait - ALAFCO Aviation Lease and Finance Company announced today that it has signed an agreement with SAS (Scandinavian Airline Systems) for the lease of five New A320neo aircraft. The aircraft will be leased for a period of 10 years, with the first aircraft scheduled to be delivered in April 2019.

Niklas Hardange, Vice President SAS Fleet Management commented “We are very pleased to have ALAFCO as a partner. The agreement gives SAS a strong cost-effective platform in a competitive market. As always, we seek long term relationships with solution-oriented partners, such as ALAFCO, that understands the complex and demanding aviation business.”

Ahmad A. Alzabin, ALAFCO’s Vice Chairman and CEO commented “I am immensely proud to announce SAS shall be added to ALAFCO’s growing list of customers. This agreement signifies the start of a long term strategic partnership with SAS; a globally recognized operator. The lease of the five A320neo aircraft is another example of ALAFCO’s continued efforts to source new customers and deepen our relationships across the industry. Going forward, I firmly believe that the A320neo aircraft will continue to support the growth plans and future needs of the aviation sector given the efficiencies attributed to this aircraft.”

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 20 airlines in 13 countries globally. ALAFCO’s remaining order book comprises of 87 new technology aircraft from Airbus and Boeing including 43 A320neo, 10 A321neo and 34 B737 MAX. Deliveries are scheduled to take place between 2018 and 2023.

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