Company officials said the commitment advances their goal of turning AviLease into a top 10 global aircraft lessor.
A digital rendering of a Boeing 737 MAX in AviLease livery. (Photo: Boeing)
Aircraft leasing company AviLease has signed an agreement with Boeing for an order of up to 30 787 MAX jets, part of a push to make the Riyadh-based firm a major player in its sector.
The deal includes a firm purchase of 20 737 MAX 8s with options for 10 more. It is the first time AviLease is buying aircraft directly from an original manufacturer, company officials said.
Financial details were not disclosed.
“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-and-A, and now direct OEM purchasing,” AviLease CEO Edward O’Byrne said in a statement. “These new aircraft will accelerate our growth and enable us to deliver the industry’s latest generation, fuel‑efficient fleet solutions.”
Fahad AlSaif, AviLease’s chairman, said the order advances the company’s goal of “becoming a top 10 global leader in aircraft leasing.”
Deliveries of the 737s are scheduled through 2032.
Bloomberg, which reported on AviLease’s order before it was publicly announced on Tuesday, suggested the deal is linked to President Donald Trump’s ongoing visit to the Middle East and his meetings with the leaders of Saudi Arabia, Qatar, and the United Arab Emirates. Deals for commercial and military aircraft have helped strengthen ties between the U.S. and the Arab Gulf states, the outlet noted, and could be part of the White House’s broader diplomatic effort there.
In its own statement, Boeing said the deal with AviLease will help solidify the manufacturer’s relationship with the growing Saudi aviation industry.
AviLease, which was formed in 2022, owns and manages about 200 aircraft on lease to 48 airlines. It is wholly owned by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, which is also in the process of launching a second Saudi flag carrier, Riyadh Air.
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