PRESSR: AviLease delivers first two Boeing 737-8 aircraft on order to Air India Group

• Fulfillment forms part of AviLease’s ongoing undertaking to supply sustainable, efficient leasing and financing services to airlines across the world.
• AviLease’s rapid global expansion supports PIF's mandate to unlock the capabilities of the Kingdom’s aviation sector to support economic diversification.

Riyadh, KSA  –  AviLease, the rising global aircraft lessor wholly owned by PIF, Saudi Arabia’s sovereign wealth fund, has successfully delivered two Boeing 737-8 aircraft on lease to Air India Express Limited. These are the first tranche of six aircraft that will be delivered in 2024.

The Boeing 737-8 is one of the most fuel-efficient, sustainable, and technologically advanced narrow-body aircraft on the market. These deliveries set the tempo for AviLease, which is seeking to build a diverse portfolio of the most advanced, latest-generation narrow- and wide-body aircraft available.

Edward O'Byrne, Chief Executive Officer, AviLease, said: “We are delighted to deliver the first two of six new Boeing 737-8 aircraft to Air India Express. Our partnership with Air India continues to strengthen under Tata Group ownership and we are proud to support their fleet modernization program. We wish the Air India Express team continued success with their commitment to provide affordable and reliable air travel to its customers.”

AviLease fulfils PIF's mandate to unlock the capabilities of priority sectors that can support the diversification of Saudi Arabia's economy and contribute to non-oil GDP growth. In addition, the company supports a thriving aviation sector and drives financial sustainability within the aviation ecosystem, in line with Vision 2030. AviLease will continue to drive local economic opportunities and create direct and indirect jobs for the KSA community in the aviation and financial sectors.

The latest delivery reaffirms the rapid global expansion of AviLease, which has a mandate to supply sustainable, efficient leasing and financing services to airlines across the world and is already playing a major role in the expansion of the Kingdom’s aviation ecosystem.

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About AviLease

AviLease is an aviation financing and leasing firm investing in the latest generation aircraft through purchase and lease-back transactions, portfolio trades and direct orders from aircraft manufacturers, aiming to contribute to the development of the aviation ecosystem.

Fully owned by PIF, AviLease has robust financial support and outstanding competencies which will support its vision and rapid growth ambitions. Founded in June 2022, AviLease is headquartered in Riyadh, Saudi Arabia. The company's portfolio consists of the latest generation of narrow-body and wide-body aircraft from the world's leading manufacturers. 

With a seasoned management team comprised of local and international experts, AviLease is poised for growth. By localizing knowledge and expertise, the company is building a strong foundation to become a national champion in the global aircraft leasing market.

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