ALAFCO Aviation Lease and Finance Company sign lease agreement with Air India for 14 Airbus A320neo aircraft
Kuwait City, Kuwait, 15 February 2016 – ALAFCO Aviation Lease and Finance Company announced it signed a sale and leaseback agreement with Aegean Airlines for one new Airbus A320-200 aircraft. This is the second of two aircraft to be delivered to Aegean Airlines under a sale and leaseback agreement with ALAFCO, the first which was delivered in July 2015. The aircraft will be leased for a period of eight years. The recent agreement will increase the number of aircraft leased by ALAFCO to Aegean Airlines to four aircraft. Aegean Airlines is the flagship carrier of Greece and the largest airline in the country, currently operating a fleet of 45 aircraft comprising of Airbus A320-200 and A321-200. In 2013, Aegean Airlines acquired its domestic rival Olympic Air, making Olympic a subsidiary of Aegean. ALAFCO is a Kuwait-based aircraft leasing company that is listed on the Kuwait Stock Exchange. ALAFCO’s portfolio consists of 50 Airbus and Boeing aircraft, leased to 14 airlines in 13 countries across Europe, Asia, Africa, Latin America and the Middle East.