Kuwait-Mubasher: Aviation Lease and Finance (Alafco) has purchased a four-aircraft portfolio for a total of KWD 50.79 million ($168.3 million), the company said in a statement issued Wednesday.
The four aircraft are on eight-year lease contracts to two airlines.
Alafco said that the financial impact of this deal will be KWD 700,000 ($2.32 million) for the fiscal year 2016.
A profit margin of KWD 1.7 million ($5.64 million) should be achieved annually from 2017 to 2024, the contract’s duration.
Alafco stock retreated 1.9%, a few minutes before closing Wednesday’s session, as about 1.11 million shares were exchanged with a value of about KWD 230,000.
