Mubasher: Kuwait-based Aviation Lease and Finance (Alafco) has signed a KWD 168.2 million ($553 million) contract with Oman’s SalamAir.
Upon the contract, SalamAir will lease five Airbus A320neo aircraft from Alafco and the delivery of the jets will commence as of May until the end of 2019, according to a statement to Boursa Kuwait.
The leasing price for Airbus A320neo airlines was formed at a basis of calculating 0.29% to 0.37% of the plane’s value as a monthly leasing amount.
The Kuwaiti company further noted that the transaction’s financial impact will be realised in its financials as of the third quarter of 2019 for a 12-year period.
Alafco’s profits slumped 43.1% to KWD 4.43 million in the first quarter ended on 31 March, from KWD 7.78 million in the year-ago period.
