04-Apr-2011 3:39 PM
AWAS places aircraft with El Al and Norwind, ALAFCO seeking damages
Analysis
Kuwaiti leasing company Aviation Lease and Finance Company (ALAFCO) is reportedly seeking USD70 million in damages from Wataniya Airways, after the Kuwait-based carrier ceased operations in mid-Mar-2011. ALAFCO has three A320s on lease to Wataniya, with the contract running from 2009 to 2017. Shares in ALAFCO were flat on Friday, on a generally positive day for leasing company shares.
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