Kuwait - Mubasher: Aviation Lease and Finance (Alafco) has purchased aircrafts portfolio along with the leasing contracts from GECAS Company.
The nine-aircraft deal is worth KWD 122 million ($403.55 million), with duration period ends in 2026, the company said in a bourse statement issued Sunday.
Alafco clarified that the financial impact from this contract stands at a KWD 700,000 profit for the current fiscal year, with an estimated annual profit of KWD 400,000 starting from 2017 until the contract expires.
