Kuwait's Alafco leases two Airbus A320s to Olympic

Olympic will take delivery of the two aircraft this month, for 72 months, Alafco said in a statement on the Kuwaiti bourse website.

Alafco, in which Islamic lender Kuwait Finance House and state-owned Kuwait Airways are its biggest shareholders, said monthly rental charges are 1% of the listed price of $77 million per plane.

Alafco had said it will deliver 11 Airbus aircraft in the second half of 2009.
Under a 2003 restructuring, Olympic Airways re-emerged as the slimmed-down Olympic Airlines, which was then sold to an investment group in March this year.