Middle East business information

Kuwait-based Alafco Aviation Lease and Finance Co has reported a net profit of KD10.2m ($35.6m) in the fiscal year ending September 30, 2009. Shareholders equity has climbed by 15% to KD93.6m ($326.5m). Alafco's fleet had seen a substantial increase in the number of leased aircraft as it took delivery of 12 Boeing and Airbus aircraft directly from manufacturers, of which nine were leased to local, regional and global airlines, increasing the leased aircraft portfolio to 26, the firm said in a statement.