ALAFCO secures new leasing deals for Italy and Colombia

Kuwait’s ALAFCO leasing company has started 2022 with a bang. Having announced losses in 2021 having delivered just nine aircraft it has revealed two new deals

The ITA livery for its new Italian fleet with aircraft from Kuwaiti lessor
The new Italian carrier ITA shows off its livery ahead of deliveries of A350 from lessor ALAFCO

It received a mandate to lease four Airbus A350s to the new Italian flag carrier Italia Trasporto Aereo (ITA).

It followed this up with an agreement to lease two Airbus A320s to Colombian start-up Ultra Air.

The ITA aircraft will be leased for a period of 12 years and will deliver to the successor of Alitalia later this year.

"ITA represents a fantastic addition to our growing customer base, further strengthening our aircraft portfolio," said ALAFCO chief executive Adel Albanwan. "This deal underlines our continued efforts to place aircraft from our orderbook despite the challenges of the Covid-19 outbreak and marks the start of a new partnership that we will look to develop into a long-term success."

ITA has said that it plans to work with six lessors to increase its fleet from an initial 52 aircraft to 105 in 2025.


Alan Peaford

Alan Peaford MBE

Alan is a regular broadcaster and is the consultant editor-in-chief and presenter for Times Aerospace TV and is a regular commentator on aviation issues for many global broadcasting channels. He is conference chairman of the Aviation Africa summit and the Aviation MENA summit and has moderated or chaired conferences for organisations such as IATA, DCAA, the Global Aerospace Summit and business aviation associations in the Middle East, Africa and Europe.