Kuwati leasing company Alafco has confirmed its sale to Macquarie Airfinance Group for US$2.215bn in a disclosure filing. The sale comprises 53 aircraft and the transfer of Alafco’s 2012 purchase order for 737-8MAX aircraft. The expected accounting loss of the transaction is forecasted at $61.4 million. Upon approval by the shareholders, the cash and cash equivalent will increase by $710 million after the repayment of the outstanding financing secured by the aircraft. The transaction is expected to complete 12 months after the deal has been approved and signed, subject to the customary regulatory approvals.

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