SAA and Alafco sign agreement for sale and lease of 17 Boeing and Airbus aircraft

On June 26th Saudi Arabian Airlines and Kuwait based Alafco Aviation Lease and Finance Company announced their agreement for the sale and lease of 17 Boeing and Airbus aircraft to Saudi Arabian Airlines to be delivered during the period from 2009 until 2015.

The Chairman & Chief Executive Officer of Alafco Aviation Lease and Finance Company Mr. Ahmad Abdullah Alzabin stated that the agreement includes the sale of 8 Boeing Dreamliner B787-9 aircraft with the total value of $1.6 billion, at list prices, to be delivered between 2014 and 2015.

The agreement also states that Saudi Arabian Airlines shall lease 4 Boeing B787-9 aircraft for a period of 12 years (to be delivered in 2012) and 5 Airbus A320-200 aircraft that shall be delivered in 2009, for a period of 8 years. The value of the leased aircraft is $1.125 billion at list prices.

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