Aircraft leasing: AviLease awards first Boeing contract

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Boeing and AviLease announce that the Saudi leasing company has placed its first direct aircraft order with Boeing. The order includes 20 737-8 jets with options for ten more. This move is expected to help AviLease expand its fleet and offer customers the latest generation of fuel-efficient aircraft.

First direct order and strategic growth

AviLease, a global aircraft lessor based in Saudi Arabia, announced the completion of its first direct order with an original equipment manufacturer (OEM). Edward O’Byrne, CEO of AviLease, stated that this transaction represents a significant step in its growth strategy, aiming to position itself at the forefront of the industry. Thanks to recently acquired investment valuations, AviLease is able to operate across all market channels, including sale and leaseback, secondary trading, mergers, and now direct OEM purchase. The new aircraft are expected to accelerate growth and provide customers with the latest generation of fuel-efficient fleet solutions.

Supporting the Saudi Vision 2030

The order for the Boeing 737-8 jets is seen as part of the Kingdom of Saudi Arabia‘s comprehensive strategy to transform the country into a global aviation hub. These aircraft will help support the country’s goal of serving 330 million passengers annually and attracting 150 million visitors by 2030. This plan is a core part of Vision 2030, which aims to promote economic diversification and the development of the aviation sector.

Boeing‘s involvement in the Saudi market

Brad McMullen, Boeing‘s senior vice president of commercial sales and marketing, said the company is honored to strengthen its relationship with a key Saudi commercial aviation partner while expanding its global 737 MAX fleet. The 737 MAX offers AviLease unmatched fuel efficiency and market-leading versatility. These attributes will fuel AviLease’s profitable global growth and support the business and sustainability goals of its airline customers.

The 737 as a cornerstone in the leasing industry

The Boeing 737 is considered a key component of the leasing industry, representing approximately 30% of all financed aircraft. Its low operating costs and large global customer base make it a financially attractive option for leasing companies worldwide. These attributes contribute to the 737‘s reputation as a stable investment, offering the efficiency and versatility sought after in today’s aviation sector.

AviLease has established itself as a leading global aircraft lessor specializing in providing fuel-efficient flight solutions to its customers. Through steady growth and strategic investments, the company strives to further expand its position in the global aviation sector while supporting the objectives of its airline partners.