Kuwait’s Alafco to lease seven aircraft

06 Jul 2010

(MENAFN) Kuwait’s Aviation Lease and Finance Company (Alafco) said that it has agreed to lease seven Boeing aircraft to Ethiopian Airlines, China’s Okay Airways and Russia’s Transaero Airlines, Reuters reported.

Ethiopian Airlines and Okay Airways will each lease three new Boeing 737-800 aircraft for 96 months, Alafco said in a statement on the Kuwaiti bourse. The market price of each aircraft is $77 million, the firm said.

Alafco said it also agreed to lease a used Boeing 777-200 for 96 months to Transaero Airlines, at a market price of $60 million.

Alafco, in which Islamic lender Kuwait Finance House and state-owned Kuwait Airways are the biggest shareholders, said monthly rental charges are 1 percent of the listed prices

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