AviLease, the Saudi-headquartered global aircraft lessor, announced signing an agreement with Boeing for an order of 30 Boeing 737-8 aircraft.
It also marked AviLease’s first direct OEM order. Deliveries are scheduled through 2032.
The strategic investment will enable the aircraft leasing company, part of the Public Investment Fund (PIF), to provide its global customer base with new technology, fuel-efficient fleet solutions, while simultaneously fostering the growth of the Saudi Arabian aviation ecosystem.
Fahad AlSaif, Chairman of AviLease, said the strategic order reflects the company’s long-term ambition of becoming a top 10 global leader in aircraft leasing.
“This also aligns with the mandate of PIF to contribute to the goals of Saudi Arabia’s Vision 2030 and the National Aviation Strategy,” he said.
Edward O’Byrne, CEO of AviLease, said its first direct OEM order followed the company building on its 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,” he said.
Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing, said the 737 MAX will diversify AviLease’s current portfolio with the latest single-aisle technology.
“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,” he said.
