PIF's AviLease to acquire up to 77 Airbus jets in expansion drive
RIYADH: Saudi Arabia's Public Investment Fund-owned AviLease has signed a deal to purchase up to 77 Airbus aircraft, further expanding its next-generation, fuel-efficient fleet to meet rising global demand across passenger and cargo operations.
The agreement, announced at the Paris Air Show, includes 55 A320neo Family aircraft and 22 A350F freighters, with deliveries scheduled through 2033, according to a press release.
This marks AviLease's first direct order with Airbus. The move aligns with the goals of the Saudi Aviation Strategy, which targets a rise in annual passenger capacity to 330 million and cargo throughput to 4.5 million tonnes by 2030, while enhancing the Kingdom's status as a regional aviation hub.
'This dual order reinforces AviLease's credentials as a leading lessor, and it demonstrates the broad appeal of our products among lessors and their airline customers,' said Benoit de Saint-Exupéry, executive vice president of sales for Airbus Commercial Aircraft.
Edward O'Byrne, CEO of AviLease, said: 'We are proud to establish an Airbus order book, strengthening our position as a full-service, investment grade global lessor. The addition of these latest generation aircraft enhances our ability to offer modern, fuel-efficient fleet solutions to our airline partners in Saudi Arabia and around the world.'
The A350F freighters were selected following consultations with local stakeholders and will support Saudi Arabia's expanding air cargo requirements. O'Byrne noted that AviLease has secured delivery slots in line with the Kingdom's Vision 2030 goals.
'We thank our local partners and Airbus for the strong long-term partnership we have established and look forward to placing these aircraft across our valued customer base,' he said.
The A350F, according to Airbus, offers at least 20 percent lower fuel consumption, improved loading capabilities, and extended range.
The new order follows AviLease's purchase of 30 Boeing 737 MAX aircraft in May—its first direct deal with a manufacturer—bringing its total new aircraft orders within two months to 107.
'In less than two months, AviLease has signed two major deals, reflecting its long-term ambition to become a top 10 global player in aircraft leasing and to strengthen its position as a national champion,' said Fahad Al-Saif, chairman of AviLease.
As of March 31, AviLease had a portfolio of 200 aircraft leased to 48 airlines around the world.
In April, the firm secured a $1.5 billion unsecured revolving credit facility to support its global expansion. The three-year facility attracted commitments from 20 international banks, including eight new lenders from Europe, Asia, and North America.
The company holds investment-grade ratings of Baa2 (stable) from Moody's Ratings and BBB (stable) from Fitch Ratings.
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