Saudi Arabian aircraft lessor AviLease has acquired another nine aircraft through a second transaction with Irish-based Avolon.
It has not identified the aircraft types involved in the latest agreement.
But Avolon shareholder Bohai Leasing says they comprise an Airbus A350, an A330neo and a Boeing 787-9 plus four Airbus A320-family and two Boeing 737 jets – all on lease to customers.
It values the aircraft at $580 million – although the actual negotiated sale price is not given – adding that the aircraft have been sold to “optimise the company’s asset structure” and improve its competitiveness.
AviLease has rapidly expanded over the two years since its creation, by the Saudi Public Investment Fund, in mid-2022.
It has a portfolio of 167 owned and 23 managed aircraft after the company took over the leasing arm of Standard Chartered last year.
“[We have] been able to quickly operationalise and ramp-up a profitable leasing platform thanks to our ability to deploy capital across multiple channels,” says chief executive Edward O’Byrne.
AviLease took 13 aircraft from Avolon last year, under a separate deal which included A330neo, A320neo and Boeing 737 Max jets as well as older single-aisle models.
