Boeing and ALAFCO Sign Deal for 12 787s and Next-Generation 6 737s

On Monday, Boeing and ALAFCO Aviation Lease and Finance Company held a formal signing ceremony for the direct purchase of 12 787-8 airplanes and six Next-Generation 737-800s. The total value of the deal is $2.26 billion at list prices.

The Sharia-based leasing and finance company is the first Middle East customer to finalize its order for Boeing's much sought after 787 Dreamliner.

The signing ceremony was hosted by ALAFCO's Chairman and CEO Mr. Ahmad Alzabin and Lee Monson, Boeing's vice president of sales for the Middle East & Africa.

"We're proud to be the first Middle Eastern company to purchase the 787-8 and our confidence to place this innovative airplane with airlines is further bolstered by the unprecedented demand for Boeing's Dreamliner," said Mr. Alzabin. "The advanced technologies used to build this airplane will result in great operating efficiencies and substantial cost savings for our airline customers. Both the 787-8 and the very popular Next-Generation 737-800 are strategic investments for ALAFCO, and this order will move the company closer to the realization of our ambitious growth plan." 

ALAFCO recently became a publicly traded company in October 2006. It currently has airplanes on lease with nine carriers worldwide.

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