The financial statements of ALAFCO Aircraft Purchase and Lease Finance showed the company's loss in the nine months ended June 30, 2021, compared to profits for the same period in 2020.
According to the company's results to the Kuwaiti Stock Exchange, today, Sunday, the losses for the period amounted to 3.15 million dinars (10.50 million dollars), compared to profits for the same nine months of last year, which amounted to 1.39 million. Dinars ($4.63 million).
The company said in a statement to the stock exchange that the negative shift in results during the comparison periods is mainly due to the decrease in revenues as a result of the restructuring of lease contracts.
The company's total operating income in the nine months ended June 30, 2021 amounted to about 76.68 million dinars, compared to 88.64 million dinars for the same period in 2020, a decrease of 13 percent. %.
The company achieved losses of 613.40 thousand dinars in the third quarter ending on June 30, 2021, compared to profits for the same period last year of 5.88 million dinars.
Alafco's losses were down 43% in the first half ending March 31, 2021; To reach 2.54 million dinars, compared to losses for the same period in 2020, amounting to 4.49 million dinars.
