Mubasher: Aviation Lease and Finance (Alafco) has signed a leasing contract for five new Airbus A320Neo planes with Scandinavian Airlines System, according to a bourse statement on Tuesday.
The new aircraft will be delivered starting from April 2019 until the end of 2020, Alafco noted in the statement.
The financial impact of this leasing deal will reflect on Alafco’s income statements starting from the third quarter ending on 30 September 2019 until ten years from the delivery period.
Alafco said it cannot disclose the financial impact of this leasing deal in the current time as it will impact the company’s competence in the aircraft market.
At the stock level, Alafco closed Tuesday’s session 0.56% higher at 357 fils.
