AviLease, a global aircraft lessor headquartered in Saudi Arabia, has announced it will be placing its first direct order with Boeing.
The lessor signed an agreement with a firm purchase for 20 737-8 jets and options for 10 more. The deal enables AviLease to scale up its growing portfolio and provides its customers with the latest generation, fuel-efficient aircraft.
AviLease is a company under the umbrella of the Saudi Government Public Investment Fund (PIF), which has grown its fleet by adding Airbus A320 family, Boeing 737 family, Airbus A330 and Boeing 787-9 aircraft to its leasing fleet.
It currently has 200 aircraft under its management
In Quotes
Edward O’Byrne, CEO of AviLease, said
“We are pleased to conclude our first direct Original Equipment Manufacturer (OEM) order, complementing our growth strategy towards being at the top of the industry,”
“Building on our recently achieved investment grade ratings, this transaction proves our ability to transact across all market channels, including sale and lease-back, secondary trading, M&A and now direct OEM purchasing. These new aircraft will accelerate our growth and enable us to deliver the industry’s latest generation, fuel–efficient fleet solutions. We extend our gratitude to the Boeing team for the strong long-term relationship we have built.”
Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing, added:
“We are honored to strengthen our relationship with a key Saudi Arabian commercial aviation partner and expand the global 737 MAX fleet,”
“The 737 MAX will diversify AviLease’s portfolio by delivering unrivalled fuel efficiency and market-leading versatility. It’s a powerful combination that will fuel AviLease’s profitable global expansion and support their airline customers’ business and sustainability goals.”
There’s a bigger deal though…
According to Reuters and other sources, Qatar Airways and Boeing have cut a deal for 160 more aircraft. Specifics of which have not been announced (in terms of makeup or types). There would normally a big release to accompany such news, but nothing has crossed the press wire at the time of publication.
And orders like this – even the Avrilease lease order boils down to specifics, as that’s what will pay the bills and provide certainties for a lessor, or an airline’s development.
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