Kuwait- ALAFCO posts USD88.58m profits

(MENAFN) Kuwait's Aviation Lease and Finance Company (ALAFCO) stated that profits grew to USD88.58 million as of last September, reported Kuwait News Agency (KUNA). The company's shareholders' equity jumped 15 percent during this fiscal year, to USD578.31 million, whereas total assets stood at USD2.05 billion. ALAFCO has inked deals of purchasing 117 new planes for the period of 2017 and until 2022. The firm attributed the outstanding profits to adjustments made to some of the new planes purchasing deals with airplane industries.