$2.26bn order for Boeing

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

The Sharia-based leasing and finance company is the first Middle East customer to finalise its order for Boeing’s 787 Dreamliner.

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

‘The advanced technologies used to build this airplane will result in great operating efficiencies and substantial cost savings for our airline customers,’ said Mr. Alzabin. ‘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.