Kuwaiti aircraft lessor ALAFCO has scraped orders for Airbus aircraft amid restructuring processes taking place at the company.
This will come as a blow to the European planemaker, as dozens of planes will now have to find new owners.
Without further ado, let’s get into it…
ALAFCO Scraps Airbus Orders Amid Restructuring…
As per Airliner Watch, it is understood that the contract for 85 Airbus A320neo Family aircraft has been terminated following this restructuring process that is ongoing at ALAFCO.
Around 39 of the 85 aircraft have been delivered so far, meaning that the delivery of the other 46 will not be going forward at this time.
It is understood that the other 46 were due to be delivered between now and 2026, but wouldn’t divulge further information on this.
Other elements of the restructure include the transfer of 53 aircraft and a Boeing 737 MAX order to Macquarie AirFinance to further balance the books at the Kuwaiti company.
Speculators may suggest that such a move from ALAFCO could have been why SMBC Aviation Capital placed an order for 60 A320neos earlier this week.
Delivery slots would become free for other customers to get their hands on, and if this is true, then the Hong Kong-based lessor has secured a good deal on that front.
Looking ahead, all eyes will be on ALAFCO to see how the rest of the restructuring process will go, as well as whether in the future, they could potentially reinstate the Airbus order or not.
Did you know AviationSource has two newsletters? One covers the general news and analysis of the industry as a whole, and the other to do with emergencies that take place throughout the year! To subscribe to our General News Newsletter, CLICK HERE!
To subscribe to our Emergencies, Accidents & Incidents Newsletter, CLICK HERE!
Click the photo to join our WhatsApp channel so then you can stay up to date with everything going on in the aviation industry!