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AviLease to acquire 40 Airbus jetsk: PIF-owned aircraft lessor AviLease tapped European manufacturer Airbus to acquire 10 A350F freighter jets and 30 A320neo Family aircraft at the Paris International Airshow, according to a statement. The order is estimated to be worth some USD 3.5 bn, Reuters reports, citing estimated prices from analysts Cirium Ascend.
Room for more: The pair has also signed off on the option to potentially expand the total purchase order to 77 jets — adding 12 A350F freighters and 25 A320neo Family carriers. The delivery timeline was not disclosed.
We knew this was coming: AviLease was expected to close an agreement with Airbus for 40airplanes during the show. The USD multi-bn orders for Airbus jets aim to balance its suppliers and support its aviation growth ambition.
Airbus offers competitive edge: The A350F freighter model is touted to have an expanded loading capacity, longer range capabilities, and a reduced fuel burn by a minimum of 20%. The aircraft offers a 46-ton lighter take-off weight than the competing model, due to its lighter airframe.
The PIF-owned lessor currently boasts a fleet of 200 aircraft worth USD 8 bn — which it plans to grow to 500 by 2030 by capitalizing on strong domestic demand from airlines, including Riyadh Air, Saudia, and flynas. The PIF also placed a USD 4.8 bn order last month for 20 Boeing 737-8 jets for AviLease, with an option to add 10 more.
Riyadh Air also locked in an order for 25 Airbus A350-1000 aircraft during the show — with a possibility of increasing the order to 50 A350-1000, according to a statement. The value of the order was not disclosed.
Riyadh Air is set to be the first Saudi carrier to fly the A350-100. The aircraft model has the capacity to operate using up to 50% sustainable aviation fuel (SAF).
Bullseye forecast: Riyadh Air was reportedly in talks with Boeing and Airbus for months over an order of up to 50 additional widebody jets as it looks to expand its fleet. The airline is looking to secure scarce delivery slots for Airbus A350-1000 and Boeing 777X aircraft.
Take off is approaching: Our newest carrier pushed back its launch to 3Q 2025 from earlier this year, after facing delays in Boeing aircraft deliveries.
