Saudi Arabian Airlines signed a Letter of Intent with ALAFCO for leasing additional five new Airbus A320-200 Aircraft for its fleet modernization

These high technology equipped aircraft will be operated by highly qualified and trained crew members and maintained by an equally experienced high caliber team of saudi engineers and technicians.

The 1st aircraft delivery is expected to be in September 2009G and the last aircraft delivery will be in December 2009G.

"I am very pleased that the airline was able to execute this LoI with ALAFCO. This LoI shall secure additional five (5) more Airbus A320-200 Aircraft to our future fleet. Our continuous efforts to execute the airline fleet modernisation plan as scheduled shall give the airline's Service Business Unit (SBU) the ability of satisfying the expected rise in the local and international passenger travel. The Airbus A320-200 Aircraft is one of those aircraft that shall enable us to satisfy our valuable customer needs and financially benefits the airline's SBU with its operational cost efficiency and high operational performance, said His Excellency Engr. Khalid A. Al-Molhem, Director General of Saudi Arabian Airlines.

The execution of this LoI is in line with the airline SBU strategic plan for fleet modernization. All the Airbus A320-200 purchased and dry-leased aircraft will be delivered between September 2009G and 2013G. This approach of mixing between aircraft purchase and long-term dry-lease of new aircraft perfectly suits the airline major strategic plan for privatization as it will give the airline the flexibility to modernize its fleet however and when needed, added His Excellency Engineer Khalid A. Al-Molhem, Director General of Saudi Arabian Airlines.

ALAFCO Chairman & CEO, Mr. Ahmad A. Alzabin, said ALAFCO is proud today to have been able to cooperate with a prestigious airline like Saudi Arabian Airlines. I am personally thankful for all the sincere efforts that were put in by my Saudi colleagues during the negotiation phase which resulted in reaching an agreement for the mutual benefit of both parties and established strong relations that will prosper in the future. Alzabin further added that, this deal enforces ALAFCO's strategic commitment to deepening its roots in the GCC markets by working with prestigious airlines of the region. Saudi Arabian Airlines is considered a valuable and important addition to ALAFCO's list of customers in the GCC which already includes airlines such as Oman Air and the national airline of Kuwait's Wataniya Airways.

The A320-200 aircraft entered into service in 1988G and it was designed for Short-Medium range.

This aircraft can accommodate between 112-154 passengers.

It is widely utilized through out the world due to its advance-designed airframe that had increased its operation performance and reduced its operational cost.