Israel's Knafaim buys Airbus A340-300

The plane will be leased until 2016, with an option to extend the lease for another year. Thecompnay now owns 19 planes
 
Israel's Knafaim Holdings said last Wednesday it had signed an agreement to buy and lease back an Airbus A340-300 to an unnamed large Spanish air-carrier.
 
The purchase price of the plane was, according to the company, $50 million and it will be leased until 2016, with an option to extend the lease for another year.
 
The purchase of the Airbus A340-300 brings Knafaim's fleet of planes made by Boeing and Airbus to 19, up from 11 a year ago.
 
Knafaim said in a statement that the aircrafts are being leased to seven carriers in the U.S., Europe, Canada and New Zealand.
 
It noted that it expected revenue to reach $270 million in the coming years, with revenue growth of 10% this year.