ALAFCO orders additional 35 A320neo

Lessor strengthens portfolio with world’s fastest selling aircraft

14 FEBRUARY 2012 PRESS RELEASE

ALAFCO Aviation Lease And Finance Company, the Kuwait-based international aircraft leasing company, has finalised a purchase order for 35 A320neo Family aircraft bringing its total backlog for the type to 85.

The firm contract is an increase of the previous agreement signed at the 2011 Dubai Airshow for 50 A320neo aircraft.

“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,” said Ahmad A. Alzabin, ALAFCO Chairman & CEO. “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.”

“Higher fuel prices means airlines require fuel efficient aircraft and with the A320neo offering a 15 per cent fuel burn reduction, it is the ideal investment. The A320neo reduces operating costs whilst enabling airlines to offer the best cabin comfort levels,” said John Leahy, Airbus Chief Operating Officer Customers. “This significant order from ALFACO confirms that the neo ticks all the right boxes and is clearly the best product on the market.”

Over 8,300 A320 Family aircraft have already been ordered and some 5,000 delivered to more than 350 customers and operators worldwide reaffirming its position as the world’s best-selling single-aisle aircraft family. The A320neo has over 95 percent airframe commonality making it an easy fit into existing fleets while offering up to 500 nautical miles (950 kilometres) more range or two tonnes more payload at a given range.

The A320neo is a new engine option for the A320 Family entering into service from 2015 and incorporates latest generation engines and large "Sharklet" wing tip devices, which together will deliver 15 percent in fuel savings. This reduction in fuel burn is equivalent to 1.4m litres of fuel – the consumption of 1,000 mid size cars. This saves 3,600 metric tonnes of C02 per aircraft per year, the amount absorbed by 240,000 mature trees. The A320neo NOx emissions are 50% below CAEP/6 and this aircraft also has considerably a smaller noise footprint.