Bloomberg News

Boeing Customer Alafco to Study Listing Shares in Foreign Market

January 20, 2013

Aviation Lease & Finance Co. (ALAFCO), a customer of Airbus SAS and Boeing Co., said it may list part of the company’s shares in a foreign market.

Alafco, as the Kuwait-based company is known, received shareholders’ approval on Jan. 17 to conduct a feasibility study, it said in a statement to the local stock exchange today. The company didn’t provide further details.

Alafco’s shares, which are traded on the Kuwait stock exchange, closed unchanged at 355 fils today. Kuwait Finance House (KFIN), the country’s biggest Islamic lender, is the largest shareholder in Alafco with a stake of 53.7 percent, according to data compiled by Bloomberg.

Alafco, which posted a full-year profit of 25.6 million dinars ($91 million), agreed to buy 20 Boeing 737 Max aircraft valued at $1.9 billion at current list prices, Boeing said in July. Airbus said in February it won an order for 35 A320neo planes from Alafco, raising the company’s backlog to 85.

To contact the reporter on this story: Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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