Wataniya Airways incurs losses after ending leases

Beirut: Kuwait National Airways, which suspended its operations last month, yesterday, said it lost 6.42 million Kuwaiti dinars (Dh85.14 million) for terminating leasing agreements for four aircraft from International Lease Finance Corp and AerCap Aviation Solutions.

The carrier, better known as Wataniya Airways, said in a statement posted on the Kuwait bourse website that the local Alafco Aviation Lease and Finance Co also has demanded that Wataniya pay......

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ALAFCO financial results

Kuwait City, Kuwait – 18 January 2011 ALAFCO Aviation Lease and Finance Company announced its financial results for the first quarter of the current fiscal year that ended 31 December 2010. The company earned a net profit of KD 21.8 million during the period, increasing around ten fold compared to KD 2.3 million reported during the same period last year. Earnings per share also rose around ten times to 28 Fils, compared to 3 Fils last year. Total revenue during the quarter jumped......

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Alafco closes ECA finance

JANE’S ARTICLE - 03/12/10 - PAID SUBSCRIPTION REQUIRED FOR FULL ACCESS
CA-CIB has closed export credit agency (ECA)-supported financing for Kuwait-based lessor Aviation Lease and Finance Co (Alafco) on one A320 leased to Saudi Arabian Airlines (Saudia). Jane's previously reported that Alafco closed the ECA-supported financing of two A320 aircraft in July. In February, arranger and agent CA-CIB closed the ECA financing of two......

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ALAFCO gets ECA financing for A320

AIRFINANCE JOURNAL ARTICLE – PAID SUBSCRIPTION REQUIRED FOR FULL ACCESS
ALAFCO, the Kuwaiti lessor, has closed European export credit agency (ECA) financing for one Airbus A320 on lease to Saudi Arabian Airlines......

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ALAFCO Announces Year End Financial Results

Kuwait City, Kuwait – 24 November 2010 – ALAFCO Aviation Lease and Finance Company announced its financial results for the fiscal year that ended 30 September 2010. ALAFCO earned a net profit of KD 10.8 million during the year that is equal to Fils 14.5 per share. Total assets increased 37 percent to KD 536 million. Profit from operations was......

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ALAFCO Announces Year End Financial Results

Kuwait City, Kuwait - 24 November 2010: ALAFCO Aviation Lease and Finance Company announced its financial results for the fiscal year that ended 30 September 2010. ALAFCO earned a net profit of KD 10.8 million during the year that is equal to Fils 14.5 per share. Total assets increased 37 percent to KD 536 million. Profit from operations was KD 20 million, an increase of 46% over last year. Shareholders' equity increased 10 percent to KD 103 million compared to same period last year. The board of directors has recommended the distribution of cash dividends of......

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ALAFCO financial results - 9 months to June 30, 2010

Kuwait City, Kuwait – 18 July 2010 ALAFCO Aviation Lease and Finance Company reported a net profit of KD 7.8 million (US$27.1 million) for the 9 months of its current fiscal year that ended 30 June 2010. Operating profit rose 45% to KD 14.4 million (US$ 50 million), while earnings per share reached 10.45 fils. The company’s total assets increased......

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ALAFCO Airbus A350XWB Order Swap Not Surprising

The Kuwaiti lessors decision to swap A350-800s for the baseline (and bigger) A350-900 comes as little surprise. ALAFCO had been struggling to identify even a single interested party for the A350-800 held on its books, so the switch to the baseline A350-900 was pretty much an inevitable move.

The A350-900 has cornered many sales where the 777-200ER had dominated in the late 1990s, and with Boeing thus far refusing to push up the......

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ALAFCO opts for the A350-900

ALAFCO, the Kuwait-based international Aviation Lease and Finance Company, has converted its existing firm order for 12 Airbus A350-800’s placed in 2007, into the higher capacity A350 -900 model.

The A350-900 is the first of the three members of the A350 XWB family to be introduced and will enter service in mid......

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Alafco reports net profit of KD7.8m

Alafco Aviation Lease and Finance Company reported a net profit of KD7.8m ($27.1m) for the 9 months of its current fiscal year that ended 30 June 2010. Operating profit rose 45% to KD14.4m ($50m), while earnings per share reached 10.45 fils. The company's total assets increased 42% reaching......

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Saudi Arabian Airlines leases two Airbus A320s

AIRFINANCE JOURNAL ARTICLE – PAID SUBSCRIPTION REQUIRED FOR FULL ACCESS
Saudi Arabian Airlines took delivery of two Airbus A320 aircraft on July 6 and July 12. The aircraft......

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Kuwait's Alafco to lease seven Boeing aircraft

July 6 (Reuters) - Kuwait's Aviation Lease and Finance Co (ALAF.KW) (Alafco) said it agreed to lease seven Boeing (BA.N) aircraft to Ethiopian Airlines [ETHA.UL], China's Okay Airways and Russia's Transaero Airlines.
Ethiopian Airlines and Okay Airways will each lease three new......

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Alafco refinances one Boeing 777-200ER

AIRFINANCE JOURNAL ARTICLE – PAID SUBSCRIPTION REQUIRED FOR FULL ACCESS
Operating leasing company, Alafco, closed a five-year refinancing of one Boeing 777-200ER Friday. The aircraft, which is on lease to......

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ALAFCO results for first half of current fiscal year (ended 31 March 2010)

Kuwait City, Kuwait – 21 April 2010 ALAFCO Aviation Lease and Finance Company reported a net profit of KD 5 million (US$ 17.36 million) for the first half of its current fiscal year that ended 31 March 2010, a 57% increase compared to the same period last year. Operating profit rose 51% to KD 9.3 million (US$ 32.13 million), while earnings per share reached 6.75 fils compared to 4.29 fils during the previous year. The company’s total assets increased 51% reaching.....

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KFH leases 3 Airbus aircrafts to Turkish Airlines, deal managed by ALAFCO

Kuwait Finance House (KFH) signed a deal with the Turkish Airlines to lease 3 Airbus A320-200 aircrafts for 7 years, where ALAFCO will finance the purchase and lease of the aircrafts, in addition to managing the deal on behalf of KFH. Such a step reveals the high trust KFH has in the Turkish economy, which is evident by the numerous accomplishments that KFH has been making for the past 20 years since the establishment of KFH-Turkey in 1989.
KFH’s CEO Mohammed Al-Omar stated after signing the agreement in the presence of the Chairman of the Turkish Airlines Hamdi Topcu and the Chairman and CEO of ALAFCO Ahmed Al-Zeben, that KFH is keen on reinforcing its cooperation with Turkish companies and to boost its investments in this promising, robust market, particularly since KFH’s assets reached……

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Olympic Air gets two A320s

AIRFINANCE JOURNAL ARTICLE - SUBSCRIPTION REQUIRED FOR FULL ACCESS
Crédit Agricole Corporate & Investment Bank (CA-CIB) was lead arranger and agent for the European export credit financing for two Airbus A320s for Aviation Lease and Finance Company (Alafco)......