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May 20, 2024
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In an interesting transaction between lessors, Saudi Arabia’s AviLease is acquiring thirteen new-generation aircraft from Avolon. While the acquisition of aircraft by one lessor from another is not unusual, that is mostly for used ones. This deal is for new aircraft. AviLease acquires young aircraft from Avolon.

On its LinkedIn page, AviLease specifies that the transaction includes seven Airbus A320neos, two A330neos, and a Boeing 737 MAX 8. The other three are not identified. “These sought-after and fuel-efficient aircraft types are attractive assets that contribute to the growth and development of AviLease,” the lessor says.

“This achievement not only strengthens and diversifies our portfolio but also fuels AviLease’s rapid expansion. In an impressive timeframe of less than a year, our fleet has grown to a remarkable total of 45 aircraft, enabling us to effectively meet the evolving needs of airlines worldwide,” AviLease says. “We express our sincere gratitude to Avolon for their trust and confidence in AviLease.”

AviLease was only launched in June 2022, with strong financial backing from Saudi Arabia’s Public Investment Fund (PIF). Within a month, the lessor announced an agreement with low-cost carrier flynas for twelve Airbus A320neo’s. The first two were delivered in October and November. It also did a sale and leaseback with flyadeal for seventeen A320neo’s. The A330-900s seem to be the first widebodies in the fleet.

author avatar
Richard Schuurman
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016. Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.

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