RIYADH, SAUDI ARABIA—AviLease, a global aircraft lessor headquartered in Riyadh, Saudi Arabia, today announced that it has signed an agreement with Boeing for an order of 30 Boeing 737-8 aircraft—20 737-8 jets and options for 10 more. Deliveries are scheduled through 2032.
The announcement came as Boeing CEO Kelly Ortberg is accompanying President Donald J Trump on his visit to Saudi Arabia.
“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,” said Fahad AlSaif, Chairman of AviLease.
“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,” said Edward O’Byrne, CEO of AviLease. “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.”
“We are honored to strengthen our relationship with a key Saudi Arabian commercial aviation partner and expand the global 737 MAX fleet,” said Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing. “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.”
AviLease, established in 2022, currently has 200 owned and managed aircraft and leases to 48 airlines globally. The company’s goal is to become a top 10 global aircraft lessor.
AviLease is a wholly-owned entity of PIF, a $925 billion Saudi sovereign wealth fund chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud. PIF is the driving catalyst of the prince’s of Vision 2030 plan.
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