26-Jul-2011 12:56 PM

ALAFCO forecasts record profit as it relinquishes some aircraft orders

Aviation Lease & Finance Co (ALAFCO) Chairman Ahmad al-Zabin stated the company will post “record” fiscal-year profit after the company relinquished some aircraft orders at Airbus and Boeing (Bloomberg, 25-Jul-2011). The KWD38 million (USD139 million) gain from waiving the rights to the aircraft will come on top of growth in operating profit following a fleet expansion, Mr al-Zabin said. He also said the size of industry orders placed at the Paris Air Show shows “demand is good, and gives an indication of how people are thirsty for fuel-efficient and environmentally friendly aircraft. It indicates that the coming years to 2020 are good years.”

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