AviLease places first direct order for 30 Boeing 737 MAX aircraft
Strategic investment enables AviLease to provide its global airline customer base with the most modern and fuel-efficient aircraft
Riyadh, Saudi Arabia – AviLease, the global aircraft lessor headquartered in Saudi Arabia, today announced that it has signed an agreement with Boeing for an order of 30 Boeing 737-8 aircraft.
Marking AviLease's first direct OEM order, this strategic investment will enable AviLease to provide its global customer base with new technology, fuel-efficient fleet solutions, while simultaneously fostering the growth of the Saudi Arabian aviation ecosystem. Deliveries are scheduled through 2032.
Fahad AlSaif, Chairman of AviLease, said: "This strategic order reflects AviLease's long-term ambition of becoming a top 10 global leader in aircraft leasing, while strengthening AviLease's position as a national champion. This aligns with the mandate of PIF to contribute to the goals of Saudi Arabia's Vision 2030 and the National Aviation Strategy.'
Edward O'Byrne, CEO of AviLease, commented: 'We are pleased to conclude our first direct OEM order, complementing our growth strategy towards 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."
'With this order, we are strengthening our relationship with a key Saudi Arabian commercial aviation partner and expanding the global presence of the 737 MAX,' said Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing. 'The 737 MAX will diversify AviLease's current portfolio with the latest single-aisle technology. The 737-8's incredible versatility and unrivalled fuel efficiency will enable AviLease to grow its operations and support its airline customers' business and sustainability goals.'
AviLease, a PIF Company, plays a vital role in PIF's aviation sector strategy, which aims to position Saudi Arabia as a global aviation hub. The company's growth aligns with PIF's mandate to diversify Saudi Arabia's economy in line with Vision 2030 and unlock the potential of core economic sectors.
The agreement further builds on the partnership by Riyadh Air, the new world-class airline launched by PIF, which placed an order of up to 72 Boeing 787-9 Dreamliner airplanes in a multi-billion-dollar deal, highlighting Saudi Arabia's focus on being a global aviation hub.
About AviLease
AviLease is a global aircraft lessor headquartered in Saudi Arabia. Backed by the long-term capital of its visionary shareholder PIF, AviLease aims to become a top 10 global player in aircraft leasing. As dynamic capital allocators, AviLease owns and manages a portfolio of 200 predominantly new-technology, fuel-efficient aircraft on long-term lease to 48 airline customers. With a seasoned global team of 85 professionals across five offices, AviLease serves as a national champion in aircraft leasing and plays a pivotal role in Saudi Arabia's Vision 2030 and National Aviation Strategy.
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