Boeing and AviLease Announce First Direct Order for 20 737-8 Jets
Boeing and AviLease, a global aircraft lessor based in Saudi Arabia, have announced a first direct order for Boeing airplanes, with AviLease placing a firm purchase for 20 737-8 jets and options for an additional 10 aircraft.
This deal enables AviLease to scale its growing portfolio, providing customers with the latest generation of fuel-efficient aircraft that meet the demands of today’s aviation market.
“We are pleased to finalize our first direct OEM (Original Equipment Manufacturer) order, further complementing our growth strategy towards becoming a leader in the aviation industry,” said Edward O’Byrne, CEO of AviLease. “With our recently achieved investment-grade ratings, this transaction demonstrates our ability to engage across all market channels, including sale and lease-back, secondary trading, M&A, and now direct OEM purchasing. These new aircraft will accelerate our expansion and enable us to deliver the industry’s latest generation of fuel-efficient fleet solutions. We are grateful to the Boeing team for the strong long-term relationship we’ve built.”
This single-aisle order supports Saudi Arabia’s strategic vision to become a global aviation hub, as part of the country’s ambitious plan to serve 330 million passengers and attract 150 million visitors annually by 2030. The acquisition of the 737-8 jets is a key part of the country’s goal to modernize and expand its aviation infrastructure.
“We are honored to deepen our partnership with a key Saudi Arabian commercial aviation partner and contribute to the global 737 MAX fleet expansion,” said Brad McMullen, Boeing Senior Vice President of Commercial Sales and Marketing. “The 737 MAX will diversify AviLease’s portfolio by delivering unmatched fuel efficiency and market-leading versatility. This powerful combination will support AviLease’s profitable global growth and help their airline customers achieve both business and sustainability goals.”
The Boeing 737 is a cornerstone of the global leasing industry, with a substantial customer base and low operating costs. It represents approximately 30% of all financed aircraft, making it one of the most popular choices for aircraft leasing.
As of May 2025, AviLease, the Saudi Arabia-based aircraft leasing company wholly owned by the Public Investment Fund (PIF), manages a fleet of 200 aircraft. This portfolio includes both owned and managed aircraft, which are leased to 48 airline customers worldwide.
AviLease’s fleet is predominantly composed of new-technology, fuel-efficient models such as the Airbus A320neo and Boeing 787-9. The company has been actively expanding its portfolio through various channels, including acquisitions and direct orders.
Looking ahead, AviLease aims to nearly double its fleet size to 300 aircraft by 2030. This ambitious goal aligns with Saudi Arabia’s Vision 2030 plan to establish the Kingdom as a global aviation hub.
Related News: https://airguide.info/?s=boeing, https://airguide.info/?s=AviLease, https://airguide.info/category/air-travel-business/aircraft-finance/
Sources: AirGuide Business airguide.info, bing.com, boeing.com, Saudi Press Agency, avilease.com