Kuwait’s Aviation Lease & Finance Co (ALAFCO) said on Sunday its total returns reached KD 34.2 million (USD 111.3 million) in the fiscal year’s first half that started on October 1, 2022.
The chairman Sami Al-Nisef said in a statement that the company incurred losses amounting to KD 192,000 (USD 625,000) during the same period due to stoppage of registering returns for leasing 53 aircraft according to accountability standards, pending required approvals.
The operating proceeds amounted to KD 17 million (USD 55.3 million) also during the same duration while overall assets reached KD 1.2 billion (USD 3.9 billion).
Regarding recent ALAFCO’s operations, he said the company delivered two Airbus (A320Neo) to the Mexican airways, Volariz, and inked a deal to sell two Airbus (A-320-200) planes to the Libyans airlines Berniq.
ALAFCO’s fleet amounts 76 planes, leased to 23 aviation companies in 17 countries.
Source: Kuwait News Agency