Kuwait's Aviation Lease and Finance Company (Alafco) said on Thursday it was looking to raise about $900 million in loans to finance previous purchases and plans to buy up to 10 second-hand aircraft this summer.

Chairman Ahmad Al-Zabin said his firm has secured about $210 million of a total of $1.1 billion it had been seeking to finance pre-delivery payments for 66 aircraft it had ordered.

'We already achieved part of this $1.1 billion by securing the pre-delivery payments for the aircraft to be delivered in 2009 and 2010,' Zabin told Reuters, adding that Alafco had secured $210 million from major financial institutions.

Zabin did not give further details about the loans. Alafco has confirmed orders to buy 66 aircraft from Airbus and Boeing for an estimated $7 billion, Zabin said in December.

They include 22 Boeing Dreamliners, six 737-800s, 12 Airbus 350s and several A320-200s. The aircraft would be delivered between 2009 and 2017.

Alafco plans to add 8-10 narrow-body aircraft, such as Airbus A320s and Boeing 737s, before June, he said. 'We are not placing orders for these planes. We will buy them from their present owners.'-Reuters