Kuwait based Aviation Lease and Finance Company (ALAFCO) signed an agreement with Air India for the lease of 14 new Airbus A320neo aircrafts. The company said the aircrafts will be leased for a period of 12 years, with the first six aircraft scheduled for deliver in 2017, six to be delivered in 2018 and the last two in 2019. All 14 aircraft are part of ALAFCO's existing order book with Airbus. Air India is the state-owned national carrier of India and the largest airline in the country, currently operating a fleet of over 130 aircraft to more than 100 domestic and international destinations. ALAFCO is a Kuwait-based aircraft leasing company and is listed on the Kuwait Stock Exchange. ALAFCO's portfolio consists of 49 Airbus and Boeing aircraft, leased to 14 airlines in 13 countries across Europe, Asia, Africa, Latin America and the Middle East. (Arabian Business)