“Kuwait Finance House (KFH) and ALAFCO Aviation Lease and Finance Company (ALAFCO) are leasing three Airbus A320-200 passenger aircraft to Turkish Airlines (THY) under favorable financial terms” Mohammed Sulaiman Al-Omar, KFH CEO and Chairman of the Kuwait Turk Participation Bank; Ahmad al-Zabin, Chairman and CEO of ALAFCO; Hamdi Topçu, Chairman of THY; and Temel Kotil, President of THY signed an agreement yesterday to add three Airbus A320-200 passenger aircraft to the THY fleet for seven years. All three aircraft were made in 2009 and feature a 150-passenger capacity – 12 first class and 138 economy seats.
Ahmad al-Zabin, Chairman and CEO of ALAFCO, said that ALAFCO is delighted to be supporting the expansion of the THY fleet and noted that “All three aircraft leased were delivered by Airbus last year”.
“I expect our relationship with THY to grow”
Speaking at the closing of the signing ceremony, Mohammed Sulaiman Al-Omar, KFH CEO and Chairman of the Kuwait Turk Participation Bank, said “We are honoured to be helping expand the fleet of THY, a top European airline, by participating in the leasing process. From this point onward, I expect our relationship with THY to grow. The Kuwait Finance House has a majority ownership stake in Kuwait Turk Participation Bank at 62 percent. The Turkish economy has tremendous growth potential and Kuwait Finance House will constantly pursue opportunities to boost our investment in the country through such cooperation as this leasing arrangement with THY.”
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