LOC20:13
17:13 GMT
KUWAIT, Sept 5 (KUNA) -- Aviation Lease and Finance Company (ALAFCO) and
Kuwait National Airlines Company on Wednesday signed an agreement, by which
the latter would lease three Airbuses for a period of eight years, starting
January 2009.
The agreement would be a step toward future cooperation between the two
Kuwaiti private companies in a strategic venue such as commercial air
transportation, ALAFCO's Chairman and Executive Chief Ahmad Al-Zabin told
reporters.
By this agreement, ALAFCO would provide the Airlines Company with
state-of-the-art planes that would guarantee utmost comfort for its
passengers, he added.
On his part, Kuwait National Airlines Chairman Abdussalam Al-Bahar
expressed great content over cooperating with ALAFCO, which indicated
significant growth of the industry in the Kuwaiti market.
ALAFCO is an emergent provider of innovative Sharia-based commercial
aircraft leasing products, which involves ethical investing and are equity
related, solely using the genuine asset or the cash-flow it generates. (end)
amf.hb
KUNA 052013 Sep 07NNNN