Saudia Group and AviLease sign leasing agreement for 20 new aircraft

The agreement will see AviLease deliver 20 Airbus A320neo aircraft to be operated on long-term leases by flyadeal, Saudia Group’s low-cost carrier (LCC).

Ibrahim Al-Omar, director general of Saudia, said: “This sale and leaseback agreement with AviLease is an important deal for both companies, and an important step towards the realisation of the Saudi Aviation Strategy. In the few months since it was launched, AviLease has already established itself as a key enabler of the Kingdom’s aviation sector development. Saudia Group is proud to partner with them as we strive to achieve our shared national aviation and sustainable tourism goals.”

AviLease chairman, Fahad Al-Saif, said: “We are pleased to sign this agreement with Saudia Group, owner of the Kingdom’s national carrier. Our partnership further cements AviLease’s strong portfolio within Saudi Arabia by delivering next-generation aircraft solutions to locally based operators from the world's leading manufacturers. In addition to contributing to the development of the aviation sector in Saudi Arabia, in line with the objectives of the Kingdom's Vision 2030. “

The agreement will take AviLease’s portfolio to 32 aircraft.