Mubasher: Aviation Lease and Finance Co. (ALAFCO) is currently planning to increase its aircraft fleet to 100 by the beginning of the next decade, said vice chairman and CEO Ahmad Abdullah Alzabin.
The Kuwait-based company currently owns 60 fully-leased aircraft including seven wide body aircraft and 53 narrow body aircraft, Alanba newspaper reported, citing the top official as saying during an ordinary general meeting (OGM) held on Wednesday.
He expects a number of new aircraft to be delivered by the end of 2019, noting that all aircraft slated for delivery in 2019 have been leased.
In November, ALAFCO posted KWD 33.18 million ($109.40 million) in annual profits, up 1.1% from KWD 32.82 million in the fiscal year ended 30 September 2017.
