Kuwait’s ALAFCO In $1.9bn Deal

Kuwait-based ALAFCO has signed a $1.9 billion deal with Boeing for 20 of its 737 MAX 8 aircrafts, the plane supplier’s latest deal at this week’s Farnborough Air Show.

Ahmad A Alzabin, chairman and CEO of ALAFCO, and Ray Conner, CEO of Boeing Commercial Airplanes signed the new deal at the international event in the UK.

“Today, with rising fuel costs, the 737 MAX will provide operational cost savings to airlines in addition to being more environmentally-friendly due to its latest quiet engine technology,” said Alzabin.

“These are the advantages that airlines are looking for in the current competitive and demanding environment.”

The 737 MAX has had over 1,000 orders from 17 worldwide customers since it launched in August last year.

The airplane leasing company last ordered six 737-800s in 2007 with the last aircraft arriving 12 months ago.

Boeing’s Conner said: “This is the first agreement for the 737 MAX from the Middle East which is one of the industry’s highest growth regions.

“We are proud of the confidence that ALAFCO has placed in the 737 MAX which will deliver unsurpassed fuel efficiency in the single-aisle market as well as improved environmental performance.”