Alafco Aviation Lease and Finance Company announced the signing of an agreement for the lease of 8 Airbus A320-200 aircraft to Jeddah based Saudi Arabian Airlines. The lease term shall be for a period 8 years. By concluding this deal, the total number of Airbus and Boeing aircraft Alafco has agreed to provide to Saudi Arabian Airlines has reached 25; 17 aircraft shall be leased and 8 aircraft shall be sold for a total value of $3.3 billion. The chairman and chief executive officer of Alafco Ahmad Abdullah Alzabin said the 8 Airbus aircraft shall be delivered to the Saudi Arabian Airlines between 2009-2010. The deal comes after the two sides signed agreements earlier for lease and purchase of 17 Airbus and Boeing aircraft valued at $2.7 billion at list prices. The chief executive officer of Alafco also stated that pursuant to the signed agreements, Alafco shall deliver to Saudi Arabian Airlines 13 Airbus A320-200 aircraft on lease within the next two years and 4 Boeing B787-9 Dreamliner aircraft on lease in the year 2012.
