ALAFCO Signs Commitment for 20 Boeing 737 MAXs

Kuwait airplane leasing company ALAFCO signed a commitment at the 2012 Farnborough Airshow for 20 Boeing 737 MAX 8s valued at $1.9 billion at current list prices.

The signing ceremony was attended by ALAFCO's chairman and CEO Mr. Ahmad Alzabin and Ray Conner, president and CEO of Boeing Commercial Airplanes.

"This is the first commitment for the 737 MAX from the Middle East which is one of the aviation industry's highest growth regions," said Conner. "We are proud of the confidence that ALAFCO has placed in the 737 MAX which will deliver unsurpassed fuel efficiency in the single-aisle market as well as improved environmental performance."

Already a market success, the 737 MAX has accumulated more than 1,000 orders and commitments from 17 customers worldwide since its launch on 30 August 2011.

The 737 MAX will be powered by CFM International LEAP-1B engines.

"Today, with rising fuel costs, the 737 MAX will provide operational cost savings to airlines in addition to being more environmentally-friendly due to its latest quiet engine technology," said Mr. Alzabin. "These are the advantages that airlines are looking for in the current competitive and demanding environment."

ALAFCO had ordered six 737-800s in March 2007 with the last airplane delivered to the leasing company in July 2011.

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