Garuda signs SLB agreement with ALAFCO for two 777-300ERs

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Garuda Indonesia has signed a sale and leaseback agreement with Kuwaiti leasing company ALAFCO for two Boeing 777-300ER aircraft.

The agreement with ALAFCO is Garuda's first aircraft procurement made under principles compliant with Islamic laws, the airline says.

Its spokesman could not provide details of the lease, but media reports from Kuwait say the lease is for 12 years.

Indonesia's flag carrier will receive its first of 10 777-300ERs in June, with three more to follow in July and October. It will have 314 seats in a three-class configuration - eight in first, 38 in business and 268 in economy class.

The first two aircraft will be deployed on the Jakarta-Jakarta route starting July, while its third and fourth aircraft will be used on the Sydney-Jakarta-London service in the fourth quarter of this year.