ALAFCO Aviation Lease and Finance Company KSCC was first launched in 1992 as a prospective subsidiary venture of Kuwait Airways Corporation. The promise became, however, clearly identifiable with the take over of the leading shares by the Kuwait Finance House in 1999 and the company’s lift up in 2000.

Today, Kuwait Finance House (KFH) is a world-class Islamic financial institution and currently has assets worth a considerable US$ 7 billion. Construction and real estate had long featured heavily in KFH activities, but its takeover of ALAFCO signalled its ardent interest in the Aviation sector. Only recently, it broke new grounds by establishing as Lead Sponsor with Co-Sponsor Muzun Partner Limited (MPL), the Millennium Aircraft Leasing Company (MALC Aviation Ltd.), a US$ 200 million worth joint venture for the purpose of entering into aircraft transactions in accordance with the Islamic Sharia principles.

ALAFCO and its partners Novus Aviation Ltd, an MPL related company, are Aircraft Portfolio Managers of the Fund.