alafco
alafco already ordered 26 a320s of which 25 have been delivered. including this order, it shall then take alafco’s total order for airbus single aisle aircraft to 56 .
alafco is a sharia - based aircraft leasing company with its headquarters in kuwait. the company is listed on the kuwait stock exchange and its ticker symbol is alafco. alafco has in its portfolio 50 boeing and airbus aircraft that it leases to airlines around the world .
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islamic lender kuwait finance house kfin. kw and state - owned kuwait airways are alafco’s biggest shareholders .
an ethiopian airlines boeing 737 - 800 is pictured in malawi. the carrier is alafco’s sole african client .
allegiant air to lease 13 a320s from alafco
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alafco had ordered six 737 - 800s in march 2007 with the last airplane delivered to the leasing company in july 2011 .
alafco plans to have at least 100 aircraft in its portfolio by 2020, up from 50 aircraft at the end of 2015 .
based in kuwait, alafco is a growing aviation lease and finance company with customers in asia, the middle east, and europe .
we are pleased to have alafco as a new engine customer ,
said david calhoun, president and ceo of ge transportation .
we look forward to a long - term working relationship. the genx will bring excellent economic performance to the alafco a350 fleet .
the signing ceremony was attended by alafco’s chairman and ceo mr. ahmad alzabin and ray conner, president and ceo of boeing commercial airplanes .
commenting on the announcement, mark nieuwendijk, managing director of aerdata said “we are pleased to announce alafco as our newest cms customer. alafco, in choosing aerdata, will realize the many benefits of using our industry standard lease and asset management platform to expand their business. ”
in 2006, alafco was listed on the kuwait stock exchange. today, 46% of alafco is owned by kfh, 14% is owned by gulf investment institution, 10% is owned by kuwait airways corporation (kac) and the remainder is held by private investors .
sale and leaseback is a financial transaction in which the seller (airline) of the lease aircraft sells the product to the lessor (alafco) .
mr. albulooshi joined alafco in january 2010. he is seasoned aviation professional who has worked within various teams of alafco, including marketing where he worked for more than 4 years. he has also attended various international aviation events. mr. albulooshi led the initiative on development of alafco’s 5 year strategy and business plan in 2012. he holds a bsc in electrical engineering (kuwait university) and an mba degree (kuwait maastricht business school) .
it recently bought four b777 - 300er planes for $ 1. 36 billion from kuwait airways, which alafco will lease to the carrier until 2029 .
alafco aviation lease and finance company kscp, headquartered in kuwait, is a global aircraft leasing company. the company was founded in 1992 by kuwait airways corporation (kac) and acquired by kuwait finance house (kfh) in 1999. alafco’s registration was changed from bermuda to kuwait and it was converted to a sharia compliant aircraft leasing company in 2000. alafco' s main activities are: aircraft operating leases, sale and leaseback of aircraft and aircraft lease management .
alafco’s widebody interest will not extend to the airbus a380, he said. “the a380 is a very specialized aircraft. it doesn’t fit our investment criteria. ”
mr. albanwan was elected to the board of alafco from 2002 to 2012 and now serves as deputy chief executive officer of alafco since september 2014. before alafco, he worked with kfh since 1999 where he last held the position of head of direct investments. his experience in aircraft leasing and structured finance and investments spans over 15 years. in addition to alafco, he has been a board member in saudi kuwait finance house, kuwait finance house bahrain, al - muthanna investment company and development enterprises holding company. he holds a bachelor of accounting from kuwait university, and an mba degree from school of business administration - university of san diego .
in terms of the leased fleet, five boeing 737 - 800s are leased to turkish airlines, while saudia is the largest a320 alafco lessee with 13 a320 aircraft .
alafco’s management comprises of executives with vast experience in the aviation industry. the management is committed to providing our customers the highest levels of service and operates with utmost integrity .
alafco is owned 53 percent by kuwait finance house, with kuwait airways corporation owning 11 percent, kuwait’s public institution for social security 5 percent and other investors 31 percent .
alafco, a sharia - compliant aircraft leasing company listed on the kuwait stock exchange, specialises in aircraft operating leases, lease management and in the sale and leaseback of aircraft .
at the paris airshow in june, alafco signed a memorandum of understanding to purchase 30 a320neo family aircraft, worth a total of $ 2. 7 billion at list prices .
with its rising portfolio, substantial new aircraft orders, and a highly talented experienced team of professionals, alafco is well positioned to meet the needs and demands of airlines worldwide .
“in a continuously growing market, alafco is fully focused on offering its customers the most modern, technologically advanced and economically efficient aircraft. with the a321neo we will be able to look forward to even greater levels of efficiency and offer our customers some of the best that the industry has to offer, ” said ahmad a. alzabin, alafco chairman & ceo .
to date, 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 .
“in a continuously growing market, alafco is fully focused on offering its customers the most modern, technologically advanced and economically efficient aircraft. with the a321neo we will be able to look forward to even greater levels of efficiency and offer our customers some of the best that the industry has to offer, ” said ahmad a. alzabin, alafco chairman & ceo .
leasing company sees surge in demand for larger aircraft models june, 22, 2011 — alafco, the kuwait - based international aviation lease and finance company, has signed an agreement for six more airbus a350 xwb aircraft. this repeat order brings alafco’s total order for the a350 - 900 to 18 aircraft. the deal was signed at the 49th paris airshow in le bourget .
) (alafco) plans to double its aircraft fleet to 100 by 2018, and is in negotiations with airbus ead. pa for a new order, its chairman said on monday .
alafco aviation lease and finance company, the kuwait - based international aircraft leasing company, has finalised a purchase order for 35 a320neo family aircraft bringing its total backlog for the type to 85 .
ahmad alzabin, chairman and ceo of aviation lease and finance co. (alafco), speaks during reuters midddle east summit in kuwait city on october 24, 2011. reuters / stephanie mcgehee
alafco aviation lease and finance company and pt garuda indonesia (persero) tbk (idx: giaa) jointly held a formal signing ceremony today in jakarta to commemorate the financing of 2 boeing 777 - 300er aircraft. under the transaction, alafco will be financing 2 boeing 777 - 300er aircraft for garuda indonesia through a sale and lease back scheme. the aircraft will be delivered from boeing in june 2013 and july 2013 .
le bourget - alafco aviation lease and finance company (kscc) has signed a memorandum of understanding for the purchase of 12 firm, six option airbus a350 aircraft powered by general electric company' s genx engine .
dubai, july 12 (reuters) - kuwait’s aviation lease and finance company (alafco) has asked commercial banks to submit proposals for a $ 300 million loan, banking sources familiar with the matter said on wednesday .
london — kuwait - based aircraft leasing firm alafco aviation lease and finance company, announced on thursday at the farnborough airshow, a change on its existing order for 10 a320neo to instead take 10 of the larger a321neo variant .
mr. garg is head of accounts in alafco aviation lease and finance company. he joined alafco in jan 2013 as finance manager. he holds a degree of b. com (hons .) from delhi university, india. he is also a certified chartered accountant (ca – india) and holds a certificate of ifrs (acca –uk). he has considerable experience of over 10 years in the realm of audit, accounts, finance and tax .
establishing a growing relationship with the general electric company is important to us ,
said ahmad alzabin, chairman and ceo of alafco lease and finance company .
ge brings to us both technical and global market expertise .
alafco aviation lease and finance company kscc, headquartered in kuwait, is a global aircraft leasing company. the company was founded in 1992 by kuwait airways corporation (kac) and acquired by kuwait finance house (kfh) in 2000. alafco' s customers include royal jordanian, malaysia airlines, air europa, turkish airlines, china eastern airlines, yemenia, air india, china southern airlines, sky airlines, saudi arabian airlines, vietjet air and goair .
address: alafco aviation lease and finance company kscc, 3rd floor, chamber of commerce & industry building, shuhada street, murqaab, kuwait city – kuwait. , p. o. box 2255 safat. 13023, kuwait. ,
mr. qazi joined alafco in 2015 as the head of risk and compliance. prior to joining alafco, mr. qazi was working as a director in deloitte australia. he has also worked with protiviti consulting and pwc. all of his experience relates to risk advisory and control assurance within the financial services industry. mohammad is a qualified chartered accountant with more than 10 years of experience in different jurisdictions including australia, uk, turkey, malaysia, bahrain, kuwait, pakistan, uae and saudi arabia .
, senior vice president, global sales and marketing, boeing commercial airplanes .
we are very pleased with this opportunity to help expand alafco' s single - aisle portfolio with the 737 max and look forward to strengthening and growing this partnership even further .
“the a320neo is proving to be a very popular aircraft due to its economics and low fuel burn, ” said abulqasim abdulghaffar redha, alafco executive vice president. “we anticipate strong demand from leasing customers and we look forward to helping them meet their requirements. ”
“this order reflects a strong recovery in long haul traffic demand from our customer airlines. the a350’s position as the most fuel efficient aircraft in its class is a great asset in our aircraft portfolio, ” said ahmad al zabin, alafco’s chairman and chief executive officer .
alafco aviation lease and finance company, the kuwait - based international aircraft leasing company, has upsized an order of ten a320neos to a321neos. the contract was signed today at farnborough international airshow. this agreement is part of an overall agreement signed in 2012 for 85 a320neo’s .
alafco placed its first order for the a350 xwb in 2007 when it ordered 12 a350 - 800s. these were later upsized to the larger a350 - 900 in 2010. the a350 - 900 typically has a capacity of around 40 more seats than the a350 - 800 .
aerdata, the provider of lease management, records management and engine fleet planning software, announced today at the istat americas 2016 annual conference that alafco aviation lease and finance company, has chosen aerdata’s corporate management system (cms) to support their fleet of over 50 aircraft .
“this upsizing from a320neos to a321neos confirms the market trend for larger aircraft. the a321neo will bring alafco’s customers unbeatable economics and the highest standard of passenger comfort. it is the ideal middle of the market aircraft, ” said john leahy, airbus chief operating officer, customers .
“this upsizing from a320neos to a321neos confirms the market trend for larger aircraft. the a321neo will bring alafco’s customers unbeatable economics and the highest standard of passenger comfort. it is the ideal middle of the market aircraft, ” said john leahy, airbus chief operating officer, customers .
farnborough, united kingdom | july 10, 2012 / prnewswire / – boeing (nyse: ba) and kuwait airplane leasing company alafco today announced a commitment at the 2012 farnborough airshow for 20 boeing 737 max 8s valued at $ 1. 9 billion at current list prices .
mr. satar was thanking alafco for the partnership of the financing for the b777 - 300er aircraft with garuda indonesia and said this is an important milestone for garuda indonesia since this was the first time for garuda indonesia to enter a new era of partnership in accordance with sharia principles .
“ this upsizing from a320neos to a321neos confirms the market trend for larger aircraft. the a321neo will bring alafco’s customers unbeatable economics and the highest standard of passenger comfort. it is the ideal middle of the market aircraft, ” said john leahy, airbus chief operating officer, customers .
asian airlines are forecast to continue with strong growth and alafco is intensifying its pursuit of leasing opportunities there. “we have placed six a350 - 900xwbs with thai airways for 2017 - 18. we have a solid contract with them and everything is going well, ” he said of the 2011 deal .
alafco’s order pipeline is still awaiting 117 aircraft, consisting of 85 a320neos, 20 b737 - 8max and 12 a350 - 900xwbs. in 2015 the company added four aircraft to its fleet and saw one disposal. as at october 1 this year it had 53 aircraft, 50 owned and 3 managed for investors .
kuwait, nov. 4, 2012 / prnewswire / - - boeing (nyse: ba) and kuwait airplane leasing company alafco finalized an order for 20 boeing 737 max 8s valued at $ 2. 0 billion at current list price. the order was first announced as a commitment at the farnborough airshow in july .
alafco is 100 - percent islamically funded. by statutes of its articles of association, it is shari’ah - compliant. “we do murabaha and ijarah. murabaha means i buy and sell to you with a mark - up. ijarah is leasing, where i own the asset and rent it to you, ” he said .
alafco aviation lease and finance company kscp 3rd floor, chamber of commerce & industry building, abdul aziz al - sager street, al - qibla, kuwait city - kuwait. p. o. box 2255 safat. 13023, kuwait. tel: + 965 2290 2888 fax: + 965 2240 5225 email: info @ urltoken
“this is the first commitment for the 737 max from the middle east which is one of the aviation industry’s highest growth regions, ” said conner. “we are proud of the confidence that alafco has placed in the 737 max which will deliver unsurpassed fuel efficiency in the single - aisle market as well as improved environmental performance. ”
june 22, 2011 — alafco, the kuwait - based international aviation lease and finance company, has signed an agreement for 30 airbus a320neo aircraft. the memorandum of understanding (mou) was signed at the 49th paris airshow in le bourget. it follows the placing of an earlier firm order for six a350 - 900 aircraft .
today, with rising fuel costs, the 737 max will provide operational cost savings to airlines in addition to being more environmentally friendly due to its latest quiet engine technology ,
stated alafco' s chairman and ceo ahmad alzabin during the farnborough airshow .
these are the advantages that airlines are looking for in the current competitive and demanding environment .
as a lessor, we are committed to provide our global customer base with technologically - advanced aircraft ,
said ahmad alzabin, chief executive officer and vice - chairman, alafco .
fuel efficiency, operational reliability and efficiency are key factors for our airline customers and the 737 max will help us meet those demands in the single - aisle market .
“this order echoes the market demand for larger more fuel efficient long haul aircraft. we are delighted that alafco has selected our a350 - 900 as the reference aircraft for their long haul leasing business. to get a repeat order from a lessor, is a great vote of confidence in the a350 xwb, ” said john leahy, airbus chief operating officer customers .
this is the first order for the 737 max from the middle east, which is one of the aviation industry' s highest growth regions ,
said ray conner, president and ceo of boeing commercial airplanes .
we are proud of the confidence that alafco has placed in the 737 max, and hope to continue this partnership well into the future .
present at the signing ceremony were alafco' s chairman mr. ahmad a. alzabin and garuda indonesia president & ceo mr. emirsyah satar, who said
mr. alzabin said alafco is very proud to have garuda as a new customer. he said the airline' s management and board have done a remarkable job in turning this airline around and making it the pride of indonesia, and is confident the airline will continue to reach new heights in the coming years. he also said that this transaction is the first in indonesia, where the aviation industry is growing rapidly on the back of a strong economy that is forecasted to grow at an average rate of 6 - 7 percent annually until 2017 and be among the top six global economies by 2030
.
mr. quadri joined alafco in february 2016. he has over 25 years of diverse experience across the aviation industry, including 17 years with the emirates airline group and five years with singapore based boc aviation. saeed is a professionally qualified accountant from the institute of chartered accountants of india and the american institute of certified public accountants. he holds a bachelor of arts degree from osmania university in hyderabad with specialisation in mathematics, applied mathematics & statistics .
mr. alroumi joined alafco in october 2008 from kuwait airways corporation, where he worked as an avionic engineer maintaining kuwait airways' fleet in a flight ready condition at various base locations for 17 years. mr. alroumi graduated from air service training ast scotland and prior to that he worked for one year as a line engineer in the kuwait air force. mr. alroumi has many years of experience in aircraft maintenance specializing in aircraft avionics and systems documentation .
“after a full analysis, we concluded that the a320neo will continue to be in strong demand, therefore, we are seizing the opportunity to secure an additional 35 aircraft to meet the future requirements of our customers. the a320neo is the market’s favourite single - aisle aircraft family, ” said ahmad a. alzabin, alafco chairman & ceo. “the significant fuel burn savings it offers, combined with the operational reliability and cost effectiveness of the a320 family, make it an absolute “must have” in our portfolio. ”
ultra - low - cost carrier (ulcc) allegiant air has signed a 12 - year lease with kuwait - based alafco aviation lease and finance co. for 13 airbus a320s. the las vegas - based carrier said the eight - year - old aircraft are expected to enter service beginning in the first quarter of 2018. the agreement includes an option to purchase at the end of the lease term. the a320s will be configured with 186 seats and will be powered by cfm international’s cfm56 - 5b engines. allegiant called the ...
mr. khot joined alafco in january 2001 from general electric capital in the us where he held various positions in risk management. prior to that, he was a manager with fidelity financial services, a subsidiary of the bank of boston. mr. khot brings many years of underwriting and portfolio management experience as a result of his roles in originating secured and unsecured sub - prime loans, servicing the loans and remarketing foreclosed assets. he holds a bba degree in finance from the university of central oklahoma, and an mba degree in finance from oklahoma city university .
today, alafco’s sole african client is ethiopian airlines, which leases three 737 - 800s. “we are also looking at other possibilities in north, central and southern africa. we hope to increase our presence there. we are very open - minded. africa is establishing itself right now. we need to see it stabilize. north africa is settling down after the arab spring. in central africa, there are attempts to start airlines, but without real credibility. until they gain credibility, everyone will struggle. you need to have the right structure in place. there is a lot to be done, ” al zabin said .
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the 737 max is the new - engine variant of the world' s best - selling airplane and builds on the strengths of today' s next - generation 737. the airplane will be powered by new cfm international leap - 1b engines. along with the engines, aerodynamic improvements to the tail and the new advanced technology winglet, the 737 max will reduce fuel burn and co2 emissions by 13 percent over today' s most fuel - efficient single - aisle airplane, the next - generation 737. the 737 max will have the lowest operating costs in the single - aisle segment with an 8 percent advantage per seat over tomorrow' s competition .
the order brings the total number of 737 max orders to date to 878 .
contact: saffana michael boeing commercial airplanes + 9 7150 - 4590651 saffana. michael2 @ urltoken
alzabin also said that the b777 - 300er is the best aircraft in its class today that will provide garuda and its customers years of reliable service and comfort. these two b777 - 300er aircraft are the first in garuda' s fleet and the lease is structured in accordance with islamic sharia principles. finally, alzabin said he hopes to enter into more transactions with garuda and support its future growth plans .
these two aircraft is part of 10 b777 - 300er which was ordered to boeing company and four aircraft will be delivered this year. two aircraft will soon serve jakarta - jeddah on july, and two other aircraft will serve sydney - jakarta - london on q4 this year. from operation point of view, this new fuel - efficient and state - of - the - art aircraft will give more comfortable traveling to our passengers and allow garuda to maintain its more efficient operations ,
said satar .
as part of its
quantum leap program 2011 - 2015
, garuda indonesia will welcome 24 brand new aircraft this year alone, including four boeing 777 - 300er, three airbus a330, ten boeing 737 - 800ng, and seven bombardier crj1000 nextgen. by 2015 garuda indonesia will see its fleet grow from the current figures of 106 aircraft 194 aircraft with an average of age less than five years .
garuda indonesia is the national flag carrier of indonesia, serves as full service carrier and provide low cost carrier services under our subsidiaries pt citilink indonesia. per december 2012, garuda indonesia group operates 106 aircrafts, serves 34 domestic and 19 international destinations in southeast asia (kuala lumpur, singapore and bangkok) middle east (jeddah, abu dhabi), north asia (tokyo, osaka, beijing, shanghai, guangzhou, hongkong, taipei, seoul), australia (sydney, melbourne, perth) and europe (amsterdam) .
to expand international destinations, garuda indonesia has signed codeshare agreements with 11 international airlines partners, and total serves to 35 international destinations .
garuda indonesia has mission to become the flag carrier of indonesia that promotes indonesia to the world, supports national economic development by delivering professional air travel services. for further info about garuda indonesia please visit
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garuda indonesia group books net income of us $ 9. 35 million for 2016, maintaining positive performance
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we as lessors acquire certain aircraft at our own risk and transfer the product to the lessee as the lease object, for the purpose of temporary possession .
air transportation is a fast growing and a very competitive industry. it is also highly capital intense and sensitive to business cycle ,
if any employee or external party reasonably believes that some policy, practice, or activity of the company is in breach of law, regulatory requirements or applicable regulations, a written complaint may be filed through the whistle blowing mechanism of the company .
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the three - year loan would be used to back aircraft purchases and for pre - payment on deliveries .
kfh capital, the main investment arm of kuwait finance house, is advising the company on the fundraising, the bankers said .
the company reported a 78 percent jump in net profit to 10. 8 million kuwaiti dinars ($ 35. 75 million) for the six months to march 31 .
the firm is 46 percent - owned by kuwait finance house, while gulf investment corporation – an investment company equally owned by the governments of the six member states of the gulf cooperation council – owns a 14 percent stake .
kuwait airways corporation owns a 10 percent stake, and the remainder is held by private investors .
miami — russian flag carrier, aeroflot, is negotiating with airbus the expansion of its long - haul fleet with a potential order of 28 airbus a350 - 900s, worth $ 7. 8 billion at list prices... .
miami — delta air lines broke its own record by transporting 17. 7 million passengers in june alone. the airline claims to have flown this number of passengers through both its ...
the new contract is part of an order placed by the leasing firm in 2012 for 85 a320neos. of these, 14 will be delivered to air india ,
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nearly 37, 400 new aircraft valued at us $ 5. 8 trillion required over 20 years
the a320 family is the world’s best - selling single aisle product line with almost 12, 600 orders since launch and more than 7, 100 aircraft delivered to more than 320 operators worldwide. thanks to their widest cabin, all members of the a320 family offer unmatched comfort in all classes and airbus’ 18” wide seats in economy as standard. with one aircraft in four sizes, the a320 family, seating from 100 to 240 passengers, seamlessly covers the entire single - aisle segment from low to high - density domestic to longer range routes .
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the genx engines for the firm 12 a350s are valued at more than $ 300 million. under the terms of the agreement, delivery of the aircraft, a combination of a350 - 800 and a350 - 900 models, is scheduled to begin in 2012 .
the genx is part of ge' s
ecomagination
product portfolio - ge' s commitment to develop new, cost - effective technologies that will enhance customers' environmental and operating performance .
based on the architecture of the renowned ge90, the genx is the next - generation of engine technology to succeed ge' s highly successful cf6, the best - selling engine family for wide - body aircraft. compared to the cf6 family, the genx will improve specific fuel consumption by 15 percent .
the genx is the world' s only jet engine with a front fan case and fan blades made of composites for greater durability and weight reduction. it will operate with 18 fan blades (50 percent fewer than the cf6) at noise levels lower than any large ge commercial engine. the genx features a new combustor for efficient fuel mixing before ignition, resulting in significantly lower nox levels. the first full genx engine will go to test in 2006, with engine certification scheduled for 2007 .
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kuwait based aircraft lessor has swapped 10 of the a320neos it has on order for larger a321neos .
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customers for the 787 dreamliner. the new commitment when finalized, will boost the lessor' s order to 40 737 maxs .
the 737 max family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per - seat costs and an extended range that will open up new destinations in the single - aisle market .
the 737 max incorporates the latest technology cfm international leap - 1b engines, advanced technology winglets, boeing sky interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single - aisle market .
contact: saffana michael international communications boeing commercial airplanes + 9 7150 - 4590651 saffana. michael2 @ urltoken
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the 737 max optimizes the market - leading strengths of the highly successful next - generation 737 to assure operators of competitive success far into the future .
the advanced - design next - generation 737 is the most cost - efficient, reliable and capable single - aisle airplane, featuring a dramatically elevated passenger experience thanks to the new boeing sky interior .
the 787 dreamliner applies breakthrough technologies to an all - new airplane design. the advanced features of the 787 increase efficiency, simplify airplane ownership and operation, and significantly improve the air travel experience .
he indicated new orders were unlikely in the near future. instead, he plans to acquire up to 10 narrowbody aircraft through 2016 through sale and leaseback, purchasing them and placing them back with operators on lease .
“we do not have plans [ to order ] additional aircraft direct from manufacturers. we will build the fleet with sale and leasebacks. these are more challenging, and there are so many newcomers to the market that want to try their luck at leasing, due to the low interest - rate environment. we have $ 500 million to invest [ but ] finding the right opportunity is a challenge. ”
“asia is the biggest opportunity. we do have operations in vietnam. we…helped vietjet air launch its operations with three a320 aircraft on operating lease. they started their operations with our aircraft. the airline is growing with great ambitions and has aircraft on order with airbus, ” he said .
“we are looking at all of africa for the right moment for things to stabilize and to start seeing real operations. what we see now is a scrimmage with private start - up intentions that do not appear viable. until moves are made by states or wealthy private start - ups, nobody is going to take the matter seriously. ”
“history will tell you that the aviation market is adversely affected by some global event at various times, whether it’s wars or sars or something else. however, the aviation industry is resilient and bounces back and continues its growth trajectory, ” al zabin said. “when oil prices go down there is an increase in demand for older aircraft, ” he added .
al zabin said kuwait airways was gradually regaining lost ground, after a shake - up instigated by chairman and managing director, rasha alroumi, who took over in 2013. “its fleet renewal program is starting to take effect now. they are replacing their old fleet with new a320 and a330 aircraft [ and ] they are adjusting their flying schedule. ”
generally, he said, leasing companies are better placed than airlines to get capital from the market. “we play a mediatory role between the financial institutions and the airlines, ” he said. “we have not had a need for a credit rating... we have been operating for the last 15 years and never had a problem. financial institutions look at [ our ] balance sheet and performance for the last 15 years. ”
world growth of aviation and aircraft demand is directly related to gdp growth, al zabin noted. “there are other factors, such as fuel prices or interest rates. if there is gdp growth, then there will be growth in aviation. [ however ] if interest rates go up, then lease rental costs for airlines will increase. ”
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boeing looks forward to finalizing the agreement, at which time the order will be posted to the boeing orders & deliveries website .
already a market success, the 737 max has accumulated more than 1, 000 orders and commitments from 17 customers worldwide since its launch on aug. 30, 2011. the 737 max is the new - engine variant of the world’s best - selling airplane and builds on the strengths of today’s next - generation 737. the airplane will be powered by cfm international leap - 1b engines. along with the engines, aerodynamic improvements to the tail and the new advanced technology winglet, the 737 max will reduce fuel burn and co2 emissions by 13 percent over today’s most fuel - efficient single - aisle airplane, the next - generation 737. the 737 max will have the lowest operating costs in the single - aisle segment with an eight percent advantage per seat over tomorrow’s competition .
“today, with rising fuel costs, the 737 max will provide operational cost savings to airlines in addition to being more environmentally - friendly due to its latest quiet engine technology, ” said mr. alzabin. “these are the advantages that airlines are looking for in the current competitive and demanding environment. ”
the firm contract is an increase of the previous agreement signed at the 2011 dubai airshow for 50 a320neo aircraft .
“higher fuel prices means airlines require fuel efficient aircraft and with the a320neo offering a 15 per cent fuel burn reduction, it is the ideal investment. the a320neo reduces operating costs whilst enabling airlines to offer the best cabin comfort levels, ” said john leahy, airbus chief operating officer customers. “this significant order from alfaco confirms that the neo ticks all the right boxes and is clearly the best product on the market. ”
over 8, 300 a320 family aircraft have already been ordered and some 5, 000 delivered to more than 350 customers and operators worldwide reaffirming its position as the world’s best - selling single - aisle aircraft family. the a320neo has over 95 percent airframe commonality making it an easy fit into existing fleets while offering up to 500 nautical miles (950 kilometres) more range or two tonnes more payload at a given range .
the a320neo is a new engine option for the a320 family entering into service from 2015 and incorporates latest generation engines and large “sharklet” wing tip devices, which together will deliver 15 percent in fuel savings. this reduction in fuel burn is equivalent to 1. 4m litres of fuel – the consumption of 1, 000 mid size cars. this saves 3, 600 metric tonnes of c02 per aircraft per year, the amount absorbed by 240, 000 mature trees. the a320neo nox emissions are 50% below caep / 6 and this aircraft also has considerably a smaller noise footprint .
“we’re taking neo orders from all corners of the world, from both airlines and leasing companies because we’ve hit a sweet spot in the market. an aircraft which offers a 15% reduction in fuel burn is proving to be irresistible, ” said john leahy, chief operating officer customers .
over 7, 000 a320 family aircraft have already been ordered and more than 4, 700 delivered to more than 330 customers and operators worldwide reaffirming its position as the world’s best - selling single - aisle aircraft family. the a320neo has over 95 percent airframe commonality making it an easy fit into existing fleets while offering up to 500 nautical miles (950 kilometres) more range or two tonnes more payload at a given range .
the a320neo is a new engine option for the a320 family entering into service from 2015 and incorporates latest generation engines and large “sharklet” wing tip devices, which together will deliver 15 percent in fuel savings. this reduction in fuel burn is equivalent to 1. 4m litres of fuel – the consumption of 1, 000 mid size cars. this saves 3, 600 tonnes of c02 per aircraft per year, the amount of c02 absorbed by 240, 000 mature trees. the a320neo nox emissions are 50% below caep / 6 and this aircraft also has considerably smaller noise footprint .
the a350 xwb (extra wide - body) family is airbus’ response to widespread market demand for a series of highly efficient medium - capacity long - range wide - body aircraft. with a range of up to 8, 500 nm / 15, 600 km, it is available in three basic passenger versions: the a350 - 800 accommodating 270 passengers, the a350 - 900 seating 314 and the a350 - 1000 for 350 passengers in a typical three - class layout .
the a350 xwb has the widest fuselage in its category, offering unprecedented levels of comfort, the lowest operating costs and lowest seat mile cost of any aircraft in this market segment. with power supplied by two new generation rolls royce trent xwb engines, the a350 xwb family is designed to confront the challenges of volatile fuel prices, rising passenger expectations and environmental concerns. orders for the aircraft stand at more than 574 from over 36 customers .
inflight connectivity is about getting data to and from a passenger’s laptop, or getting their voice to the right ear, wherever that might be. the technology behind it may not be interesting to passengers, but it is technological developments, such as triagnosys’ new gsm roaming solution, that drive increased efficiencies, reduce costs and thereby enable airlines to offer more connectivity to more people. ”
“the first part of our plan was to reach a fleet of 50 aircraft, and we are almost there... now our plan is to reach 100 aircraft by 2018, ” ahmad al - zabin told the reuters middle east investment summit in kuwait .
“we are in negotiations with airbus to increase the last order, and any outcome will be announced at the dubai airshow in november, ” zabin said .
the firm has a fleet of 48 aircraft, 27 of which are airbus, and the rest boeing, zabin said .
“among the companies we lease to are saudi airlines, turkish airlines, malaysia airlines, royal jordanian, and ethiopian airlines, ” he added .
zabin said the firm expected to post “record” profits for the fiscal year that ended september 30, from one - off gains. it made a net profit of 10. 8 million dinars ($ 39. 2 million) in 2010 .
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aerdata’s corporate management system (cms) is an industry leading platform that supports all business processes in aircraft leasing and asset management .
aerdata provides lease management, records management, engine fleet planning and audit and inspection software as well as technical and back office services for aircraft and engine operators, lessors and mros. with a strong customer focus, aerdata delivers a reliable and secure service to its clients using latest technologies and state of the art infrastructure .
aerdata was acquired by the boeing company and became part of boeing commercial aviation services in may, 2014. these include parts, training, engineering, maintenance and software solutions that increase the efficiency and profitability of airlines and leasing companies .
beijing - - kuwait and china sign a memorandum of understanding (mou) on e - commerce on the sideline of his highness the amir sheikh sabah al - ahmad al - jaber al - sabah' s state visit monday .
beijing - - in the presence of his highness the amir of kuwait sheikh sabah al - ahmad al - jaber al - sabah and chinese president xi jinping, kuwait and china sign several agreements and memorandum of understandings aimed at boosting ties.
alafco ( aviation lease and finance company ) is an aircraft-leasing company , based in kuwait . it is jointly owned by the kuwait finance house and kuwait airways . its lease terms are islamic economical jurisprudence-compliant . 
alafco (aviation lease and finance company) is an aircraft-leasing company, based in kuwait. it is jointly owned by the kuwait finance house and kuwait airways. its lease terms are islamic economical jurisprudence-compliant.
alafco (aviation lease and finance company) is an aircraft-leasing company, based in kuwait. it is jointly owned by the kuwait finance house and kuwait airways. its lease terms are islamic economical jurisprudence-compliant.