Kuwait - Alafco Aviation Lease and Finance Company on Sunday announced that it has obtained a ruling in its favour from the Hong Kong High Court against Hong Kong Airlines.
The High Court decision obliged Hong Kong Airlines to pay Alafco $27 million (KWD 8.2 million) for an aircraft lease value it had failed to pay, according to a bourse statement.
The financial impact will reflect on Alafco’s provision of credit losses for debit balances from the ruling once further information related to the execution of judgement is provided.
Source: Mubasher
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