ALAFCo

Kuwait-based Aviation Lease and Finance Company (ALAFCO) has finalised its order with Airbus for an additional 35 A320neo family aircraft in a deal worth $3.4bn based on list prices.

The deal follows an earlier order for 50 A320neo aircraft, taking ALFACO’s total backlog for A320neo family aircraft to 85.

ALAFCO Chairman & CEO Ahmad Alzabin said: "After a full analysis, we concluded that the A320neo will continue to be in strong demand, therefore we are seizing the opportunity to secure an additional 35 aircraft to meet the future requirements of our customers."

"The A320neo is the market’s favourite single-aisle aircraft family," Alzabin said.

"The significant fuel burn savings it offers, combined with the operational reliability and cost effectiveness of the A320 Family, make it an absolute "must have" in our portfolio."

The company said A320neo has 95% airframe commonality with its existing fleet, fitting them into its portfolio which delivers 500nm more range or 2t more payload at a given range.

Airbus Customers CEO John Leahy said: "Higher fuel prices means airlines require fuel efficient aircraft and with the A320neo offering a 15% fuel burn reduction, it is the ideal investment."

"The A320neo reduces operating costs whilst enabling airlines to offer the best cabin comfort levels," Leahy said.

"This significant order from ALFACO confirms that the neo ticks all the right boxes and is clearly the best product on the market."

The Airbus 320neo comes with a new engine option which is expected to be in service from 2015, integrating new engines and large ‘sharklet’ wing tip devices to deliver a collective 15% in fuel savings.

According to reports, deliveries of the 85 A320 neo aircraft are scheduled to begin in 2017 and will be delivered over four years.

The company has received orders for over 8,300 A320 family aircraft and has delivered 5,000 A320s to more than 350 global customers and operators to date.

 

Image: The new A320neo aircraft will deliver 500nm (950kms) more range or 2t more payload at a given range. Photo: Airbus.