Lesha adds 33 aircraft as its aviation portfolio scales past 75 jets

Qatar’s Lesha Bank is buying 33 leased aircraft from Irish lessor Avolon — its second big aircraft transaction in under a month, according to a press release. The jets, leased to 25 airlines, will be managed by Lesha Aviation Services once the agreement closes. Neither company disclosed the agreement’s value or closing date, though FlightGlobal puts the portfolio at USD 1.6 bn, made up of nine widebodies and 24 narrowbodies.

The purchase would push Lesha’s closed portfolio past 75 aircraft, according to the release. Lesha Aviation Capital’s website currently lists 46 closed aircraft worth c. USD 3.3 bn — 18 more than the 28 closed aircraft we reported in early September. That matches the 18-aircraft portfolio Lesha disclosed at the time, where it took equity interests in jets leased to nine airlines across eight countries and valued at more than USD 1 bn. Adding the Avolon jets gives 79, though the count includes aircraft held through stakes, and it isn’t clear whether the website’s USD 1.7 bn, 43+ aircraft pipeline already includes the Avolon jets.

Why it matters: Long delivery delays for new planes are pushing Gulf lessors toward in-service fleets to secure predictable revenue streams. Airbus and Boeing’s combined backlogs run past 11 years, pushing lease rates higher. Other regional players have been making similar moves: Dubai Aerospace Enterprise (DAE) closed its USD 9 bn takeover of Macquarie Airfinance in July, while PIF-owned AviLease set up a leasing JV with Hassana in September 2025. Lesha also pursued Macquarie and lost to DAE in late February, and, a week later, bought Amedeo Air Four Plus for GBP 190 mn.

BACKGROUND- Lesha has built its aviation business in two years. The bank started with five Boeing 777-300ERs in late 2024, took an indirect stake in Edinburgh Airport in April 2025, opened its Dublin office that same month, and added a London office in August 2026.