Boeing Secures First Direct Order From AviLease

Saudi Arabia-based AviLease, one of the leading aircraft leasing companies globally, and American aircraft manufacturer Boeing have announced their first direct deal. The latter has secured its first direct aircraft order from the former. The agreement comprises a firm order for twenty 737-8 jets with the option to purchase ten more.

Here’s what Edward O’Byrne, CEO at AviLease, said about this deal in an official release:

We are pleased to conclude our first direct Original Equipment Manufacturer (OEM) order, complementing our growth strategy towards being at 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. 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.

AviLease aims to become one of the top 10 aircraft lessors worldwide. Its new deal with Boeing will fuel its ambitions and strengthen its fleet, which includes 200 aircraft (owned and managed) on lease to 48 operators across the globe. At the same time, the new Boeing jets, to be delivered through 2032, will support the Kingdom of Saudi Arabia’s strategic plan of serving 330 million passengers and attracting 150 million visitors every year by the end of the current decade.

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