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



Run MS Office Pro
2010 on latest Win7
Ultimate OS to
increase your
business confidence




Buy HP Pavilion
 laptop with Corsair
DDR3 RAM for
superb performance




Need a personal loan
in Dubai? Contact
Citibank UAE for all
of your banking needs

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

date:Posted: May 18, 2013
UAE. "The general trading atmosphere is sufficiently negative for gold to enable sellers to have a firm grip on the market. However, I fail to see how the rally in the stock markets can be put into any sensible relation to the economic plight of the underlying countries."
date:Posted: May 17, 2013
EGYPT. The Egyptian government has taken tentative steps towards reducing the roughly US$20 billion subsidy system that supporters say provides vital aid to the one-in-four Egyptians in poverty, and critics say is unsustainable and enriches the corrupt.
date:Posted: May 17, 2013
UAE. Red Hat's Mark Little and Tom Llewellyn explain how Large-scale Elastic Architecture for Data-as-a-Service (LEADS) will enable enterprises to leverage all of the public data on the web against privately held data.



Wide selection of craft tools and coloured pencils will give more options to your creative side


Doing business in the Middle East? Your starting point is GulfTradeHolding, the Middle East Business Directory