(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Dec 25 (KUNA) -- Kuwait's Aviation Lease & Finance Co (ALAFCO) said on Monday that its revenue for the fiscal year ending on September 30, 2023 amounted to KD 66.1 million (USD 215 million).
The company's shareholder equity dropped by one percent as compared to last year, settling at KD 220.9 million (USD 719 million), its chairman Sami Al-Nusf said in a statement, which showed total assets at KD 885.9 million (USD 2.8 billion).
ALAFCO managed to limit financial losses by KD 1.2 million (USD 3.9 million) for the current fiscal year despite the challenges facing the aviation industry, most which are triggered by the lingering effects of the COVID pandemic, added the statement.
The statement went on to underline these results as satisfactory, citing recent lease agreements the company had sealed with a number of renowned airlines. (end)
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