ALAFCO has become the first Middle East company to express an interest in Boeing’s recently launched 737 MAX aircraft.The Kuwait-based aircraft leaser is currently in the midst of a large-scale expansion, with plans to double its fleet in the next five years. To support the ambitious target, a memorandum of understanding (MoU) was signed at the Paris Air Show earlier this year for 30 Airbus A320neos, although ALAFCO chairman and CEO Ahmad A. Alzabin has also been awaiting the launch of a rival product from Boeing. “We have traditionally invested in narrow-body aircraft and this will continue in the future too, with the A320neo being a perfect example of that strategy,” he told Aviation Business magazine in Dubai.“Indeed, if Boeing launched a similar product to the A320neo, as expected, we will not hesitate to place an order. Of course, the product would need to be studied before deciding on the extent of our order, but I am keeping a watchful eye on developments,” continued Alzabin.Boeing approved the launch of a new engine variant for its 737 last week, based on order commitments for 496 airplanes from five airlines. The new family will be powered by CFM International LEAP-1B engines optimised for the 737. According to Boeing, it will have the lowest operating costs in the single-aisle segment with a seven percent advantage over the competition. Deliveries are scheduled to begin in 2017. "The re-engined 737 will allow Boeing to continue to deliver the most fuel efficient, most capable airplane with the lowest operating costs in the single-aisle market,” said Boeing Commercial Airplanes president and CEO Jim Albaugh. "This, coupled with industry leading reliability and maintainability, is what customers have told us they want. As a result, we are seeing overwhelming demand for this new and improved version of the 737. We are working with our customers to finalise these and other agreements in the weeks and months ahead.” From / Arabian Business News