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ALAFCO sells 8 Dreamliners to KSA

Kuwait's Aviation Lease and Finance Co (ALAFCO) is to sell Saudi Arabian Airlines eight Boeing Dreamliner B787-9 aircraft for $1.6bn, reported AP. Delivery of the planes will occur in 2014 and 2015 when AlAFCO receives the planes from the manufacturer. Saudi Airlines has also agreed to lease four planes of the same type for 12 years starting from 2012, and five Airbus A320-200 for eight years starting next year. The total cost of the lease contracts is $1.125bn at list prices.