Mubasher: Alafco Aviation Lease and Finance Company on Sunday announced that it has obtained a ruling in its favour from the Hong Kong High Court against Hong Kong Airlines.
The High Court decision obliged Hong Kong Airlines to pay Alafco $27 million (KWD 8.2 million) for an aircraft lease value it had failed to pay, according to a bourse statement.
The financial impact will reflect on Alafco’s provision of credit losses for debit balances from the ruling once further information related to the execution of judgement is provided.
