Macquarie Airfinance is to take another 23 aircraft, including five widebodies, from ALAFCO’s portfolio, bringing the total it is acquiring from the Kuwaiti lessor to 76.

ALAFCO had approved the sale – worth $1.115 billion – during an annual general meeting on 19 February.

The package includes four Boeing 777s and an Airbus A350, plus 14 A320neos, two older A320s, and a pair of Boeing 737s.

Macquarie says the aircraft are leased to 10 airlines.

It had previously agreed to purchase 53 aircraft from ALAFCO as well as a batch of 20 737 Max jets that the lessor had on order – a transaction valued at $2.2 billion.


Source: ALAFCO

ALAFCO had previously sold 53 aircraft to Macquarie plus 20 737 Max jets on order

Macquarie states that the additional package will “help facilitate the transition of [our] fleet to newer technology” and provide more efficient aircraft to customers.

“The aviation sector’s strong recovery has continued, with domestic and international travel rebounding from pandemic lows in key markets,” says chief executive Eamonn Bane.

“As we prepare for the future, the addition of these aircraft to our portfolio further enhances the scale and age of our fleet.”

Completion of the transaction is expected in the second quarter.

It will take Macquarie AirFinance’s overall fleet to 240 aircraft leased to 87 airlines, and give it a firm order backlog of 66 Boeing and Airbus jets.

ALAFCO had previously signalled, after the earlier deal with Macquarie, that it could explore a further sale opportunity.

The lessor has already divested 29 of the initial 53 aircraft, and it recently opted to cancel a backlog of 46 A320neos.

ALAFCO chief Adel Albanwan says its board will “explore alternatives for the future of its global aviation business” after completing the procedures for selling its remaining aircraft.