First Direct Boeing Purchase For Global Aircraft Lessor

Saudi Arabia-based AviLease announced its first direct order for Boeing aircraft, which includes a firm purchase of 20 737-8s and options for 10 more. The order furthers AviLease’s goal of becoming a top-ten global aircraft lessor, the company announced on May 13.

Boeing said the deal will enable AviLease to expand its portfolio to offer customers “the latest generation, fuel-efficient aircraft.”

Brad McMullen, Senior Vice President of Commercial Sales and Marketing for Boeing said, “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.”

The order for the single-aisle airplanes supports the Kingdom’s strategic plan to make the country into a global aviation hub but serving 330 million passengers and drawing 150 million annual visitors by 2030.

Edward O’Byrne, CEO of AviLease said, “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 while simultaneously fostering the growth of the Saudi Arabian aviation ecosystem.”

AviLease said it is slated to take delivery of the Boeing 737-8s by 2032. The company currently owns and manages more than 200 aircraft on lease to 48 airlines.

Meanwhile, Boeing says the 737 model accounts for approximately 30% of all commercial aircraft financed through leasing arrangements.

FMI:  avilease.com/ , www.boeing.com/