Kuwait's ALAFCO orders 35 more A320neo jets
Source: BI-ME with AFP , Author: Posted by BI-ME staff
Posted: Tue February 14, 2012 11:36 am
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INTERNATIONAL. A Kuwait-based leasing firm has ordered 35 more Airbus A320neo planes for US$3.4 billion based on catalogue prices, the European aircraft maker said on Tuesday.

The purchase will be in addition to 50 A320neo aircraft ordered by the Aviation Lease and Finance Company (ALAFCO) at the Dubai Airshow last year, Airbus said in a statement.

The new deal was announced at the Singapore Airshow that kicked off Tuesday and lasts until the weekend.

"After a full analysis, we concluded that the A320neo will continue to be in strong demand," said ALAFCO chairman and chief executive Ahmad Alzabin in a statement.

"Therefore, we are seizing the opportunity to secure an additional 35 aircraft to meet the future requirements of our customers," he added.

"The significant fuel burn savings it offers, combined with the operational reliability and cost-effectiveness of the A320 family makes it an absolute 'must have' in our portfolio."

John Leahy, Airbus chief operating officer customers, said the deal was valued at US$3.4 billion at list prices.

"We are very pleased with this and we are delighted that this is a new order for the A320neo," he said at a news briefing.

Airbus said the A320neo burns 15% less fuel and also generates less noise.

The lower fuel burn saves 3,600 tonnes of carbon dioxide per aircraft per year, equal to the amount absorbed by 240,000 mature trees, Airbus added.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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SAUDI ARABIA. Often businesses will seek to explore the market through a partner or a third party with which employees are placed and through which they seek to operate in the Kingdom.
QATAR. In the end, monetary policy can be powerful in the short-term but is unlikely to change the long-term predicament of the Euro Area. The ECB may succeed in preventing prolonged deflation from taking hold, but this is a not a sufficient condition for sustainable growth.
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