Forbes: ALAFCO, Top Executive Management in the Arab World
"Forbes-Middle East" magazine published in its last issue a list of the strongest executive managements of Arab shareholding companies. ALAFCO Aviation Lease and Finance Company has come first in terms of all economic sectors, according to the study prepared based on the accounting standards of strength of performance of private sectors on the Arab World level over the last five years from 2007 to 2011.
The Magazine's study includes several standards, notably equity return for 2011, share profitability growth rate, asset growth rate and market value growth rate based on the closing share price at the end of each fiscal year. The study has covered 324 companies in Arab markets in Kuwait, Saudi Arabia, UAE, Qatar, Oman, Bahrain, Lebanon, Egypt and Jordan classified into 11 economic sectors.
On this occasion, the chairman and CEO Ahmad Abdullah Alzabin stated that this achievement, thanks to Almighty God, shall promote the Company position.
Alzabin added that the strategy adopted by the Company for securing long term lease contracts has contributed to the mitigation of consequences of political and economic turmoil in the region and establishment of strong and stable clientele base.
He stated that the Company adopts other standards related to sustainable environment development as well as profitability. The Company has ordered state-of-art aircrafts equipped with engines assumed to reduce fuel combustion, noise level and harmful emissions in comparison with the currently available engines. This is in agreement with the concept of sustainable environment development.