ALAFCO seals $2.2bn deal for 20 Boeing aircraft

DUBAI: ALAFCO’s Deputy CEO Adel Al-Banwan and the executive vice president of Boeing Kevin McAllister

DUBAI: Kuwait’s Aviation Lease and Finance Company (ALAFCO) has completed the purchase of 20 Boeing 737 Max aircraft worth $2.2 billion. On the sidelines of the ongoing Dubai Airshow 2017 expo, ALAFCO’s deputy CEO Adel Al-Banwan and the executive vice president of Boeing Kevin McAllister put their names on the dotted line to finalize the deal.
Addressing reporters, Al-Banwan pointed out that Boeing 737 Max aircraft are among the least fuel-consuming fleet of airplanes that will help propel the Kuwaiti aircraft-leasing company to new growth.

He underlined the company’s positive experiences with the Boeing 737 fleet of aircraft, which he said were highly efficient and reliable. Meanwhile, McAllister touted the 737 Max fleet of aircrafts as the “fastest-selling in the history of Boeing,” saying these airplanes are fully equipped with cutting-edge technology to ensure maximal convenience for passengers.
Established in 2000, ALAFCO joined Kuwait’s stock exchange six years later and offers services that include aircraft leasing and investment in aviation.

Separately, Kuwait’s Directorate General of Civil Aviation (DGCA) and Dubai Civil Aviation Authority (DCAA) endorsed a memorandum of understanding for sharing experience yesterday. The memorandum’s endorsement was attended by DGCA’s President Sheikh Salman Sabah Salem Al-Hmoud Al-Sabah and DCAA’s Chairman Saif Al-Suwaidi, on the sidelines of Dubai Airshow Exhibition 2017, held until November 16.

In a statement to KUNA, Sheikh Salman Al-Sabah said the memorandum involves developing cooperation in aviation and boosting performance. He hoped for further cooperation with the Emirati side in the future in strategic planning and executing projects in the field. -KUNA

This article was published on 13/11/2017