FINANCIAL NEWS

Kuwait’s ALAFCO logs USD52.8m gross profit in FY/2015

26 Oct 2015

(MENAFN) ALAFCO, the Kuwaiti Aviation Lease and Finance Company posted a net profit of USD52.8 million for its latest fiscal year.

The firm’s overall properties totaled to USD704 million, plus the company’s earnings were in line with its plans and strategy.

In more detail, ALAFCO’s leased aircraft portfolio consists of 53 aircraft, of which 50 are owned and 3 are managed for investors.

The firm will expand its portfolio to 100 aircraft by 2020 and has ordered 117 new aircraft from Boeing and Airbus valued at USD14.9 billion.

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