ALAFCO, the Kuwait-based international Aviation Lease and Finance Company, has signed a firm contract for 12 A350 XWBs. In addition, ALAFCO has also ordered seven A320s.

ALAFCO’s main shareholder is Kuwait Finance House. ALAFCO specialises in Sharia-based commercial aircraft leasing.

“We believe in investing for the future, and that is exactly what the A350 XWB represents, a good investment with a bright future,” says ALAFCO Chairman and CEO Ahmed Al Zabin. “Our customers in the Middle East and around the world need the improved economy and range that the Airbus A350 XWB offers and, when they do, we will be ready to supply it.”

ALAFCO has a diversified portfolio of commercial aircraft that include the A320 and A300/A310 Families.

“Leasing companies’ business is built around anticipating airline needs,” says Airbus Chief Operating Officer Customers John Leahy. “We are extremely pleased to have been chosen by ALAFCO to provide our newest product the A350 XWB. We are confident that our product will live up to the airlines’ needs and expectations.”

The A350 XWB (extra wide-body) is Airbus’ response to market demand for a medium capacity long range wide-body family. The A350 XWB will benefit from the widest fuselage in its category, offering unprecedented levels of comfort in this market segment. It will also offer the lowest operating costs and lowest seat mile cost of any aircraft in that category. The Family is designed to confront the challenges of high fuel prices, rising passenger expectations, and environmental concerns in that market segment.