Kuwait – Mubasher: ALAFCO Aviation Lease and Finance Company announced Wednesday it has signed an agreement with Air India for the lease of 14 new Airbus A320neo aircraft.
The lease period will extend for 12 years, the company noted.
The first six aircraft are scheduled for delivery in 2017, another six in 2018 and the last two aircraft in 2019. All 14 aircraft are part of ALAFCO's existing order book with Airbus, according to the company’s statement.
ALAFCO’s CEO Ahmed Al-Zaban told Mubasher earlier his company was targeting the purchase of new aircraft valued at $400 million in 2016.
