AviLease, a Saudi aircraft lessor, has ordered 30 Boeing 737-8 jets, marking its first direct OEM order. The deal enhances its fleet and aligns with Saudi Arabia's Vision 2030.

AviLease, a global aircraft leasing company based in Saudi Arabia, has recently signed an agreement with Boeing for the purchase of 30 Boeing 737-8 aircraft. This marks AviLease's inaugural direct order from a manufacturer.

The aircraft deliveries are scheduled to take place through 2032, positioning AviLease to enhance its fleet offerings.

This strategic investment will allow the company, which is backed by the Public Investment Fund (PIF), to deliver advanced technology and fuel-efficient aviation solutions to its international clientele while simultaneously promoting the growth of the Saudi Arabian aviation sector.

Fahad AlSaif, Chairman of AviLease, remarked that this substantial order signifies the company’s ambition of becoming a leading name in the global aircraft leasing market.

“This aligns with the PIF’s mission to support Saudi Arabia’s Vision 2030 and the National Aviation Strategy,” he said.

Edward O’Byrne, CEO of AviLease, noted that this first direct order comes after the company received investment grade ratings, highlighting its strong financial standing.

“This transaction demonstrates our capability to engage in various market activities, including sale and lease-back deals, secondary trading, mergers and acquisitions, and now direct purchases from manufacturers,” he explained.

Brad McMullen, Senior Vice President of Commercial Sales and Marketing at Boeing, stated that the addition of the 737 MAX will enhance AviLease’s existing portfolio with cutting-edge single-aisle technology.

“By placing this order, we are not only reinforcing our relationship with a vital partner in Saudi Arabia’s commercial aviation sector but also expanding the global reach of the 737 MAX,” he added.