Mubasher: Aviation Lease and Finance (Alafco) posted a decrease of 73% in profits during the second quarter of ended on 31 March 2019 compared to the same period a year ago.

Profits plunged to KWD 4.81 million in Q2-19 from KWD 17.59 million in Q2-18, according to a bourse disclosure on Sunday.

During the first half ended on 31 March this year, Alafco posted a decrease of 64% in profits to KWD 9.25 million from KWD 25.37 million in the six months ended on 31 March 2018, due to registered provisions when compared to doubtful loans, as well as a plunge in non-recurring income.