Kuwaiti aircraft manager Aviation Lease and Finance Company (ALAFCO) has signed a contract to acquire seven Airbus A320s, having concluded a deal to lease the type to Pakistan International Airlines.
ALAFCO says it signed a contract on 1 November to purchase the A320s, valuing the agreement at $420 million at list prices.
PIA is to lease seven A320s from ALAFCO for a 10-year period and take delivery of the type from 2009. They will be used to replace its Boeing 737-300s.
While ALAFCO does not mention an engine selection, Flight’s ACAS database lists PIA as having seven A320s on order with CFM International CFM56 engines.