FINANCE - Kuwait Alafco (Kuwait Finance House)To Expand Leased Aircraft Fleet In Turkey-Report

BEIRUT (Zawya Dow Jones)--Kuwait's Alafco Aviation Lease and Finance Co., a unit of Kuwait Finance House, is seeking to expand its leased fleet in Turkey, which currently consists of 11 aircraft leased for a total of $360 million, Kuwait-based Al Watan daily reports Wednesday citing a company executive.

Alafco Aviation Lease and Finance Company seeks to expand its business in Turkey because the country serves as a bridge linking Asia to Europe and because it received 26 million tourists in 2010 as well as 5 million Turkish expatriates, Ahmad Al Zabin, the company's chairman and managing director, said according to the paper.

Turkey is Alafco's second-largest market after Saudi Arabia where it is currently leasing 13 aircraft, the daily cites Al Zabin as saying.

Newspaper website: http://alwatan.kuwait.tt/ArticleDetails.aspx?Id=81601

-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com

Copyright (c) 2011 Dow Jones & Co.

(END) Dow Jones Newswires

Source : http://www.zawya.com/story.cfm/sidZW20110112000087/Kuwait%20Alafco%20To%20Expand%20Leased%20Aircraft%20Fleet%20In%20Turkey-Report/ - Jan 11, 2011