OCTOBER 27TH, 2015

AWAS acquires three modern A320-200 aircraft from ALAFCO on lease to Turkish Airlines

AWAS announced the acquisition of three modern A320-200 passenger aircraft from ALAFCO’s managed portfolio. This is the first transaction for AWAS with the global aircraft lessor based in Kuwait. These aircraft are already on long-term leases with Turkish Airlines.

Marlin Dailey, Chief Commercial Officer AWAS commented on the transaction, “We are very pleased to conclude this deal with our trading partner ALAFCO, and to expand AWAS’ already strong and growing relationship with Turkish Airlines. The ability for financiers to trade aircraft as a liquid asset increases their values for airlines and lessors alike.”

Secondary market acquisitions are key for AWAS to continue its planned growth plan. This includes purchases of bespoke portfolios of aircraft from other lessors as well as purchase and leasebacks (PLBs) from customer airlines who have previously placed pipeline orders directly with the respective manufacturer.

ALAFCO Aviation Lease and Finance Company KSCP, headquartered in Kuwait, is a global aircraft leasing company. ALAFCO’s main activities are: aircraft operating leases, sale and leaseback of aircraft and aircraft lease management. The Company leases aircraft to 15 airlines in 14 countries. ALAFCO invests in new technology aircraft and has on firm order with Airbus and Boeing 117 aircraft comprising of 85 A320neo, 12 A350-900, and 20 B737max.