Riyadh - Sharikat Mubasher: AviLease, the aircraft lessor owned by the Public Investment Fund (PIF), closed its second transaction with Avolon, the global aviation financing company, to acquire nine new aircraft.

This transaction follows AviLease’s successful purchase of 13 Avolon aircraft in 2023, a recent statement unveiled.

The new transaction contributes to the diversification of the AviLease aircraft portfolio, which now comprises 167 owned aircraft, including purchase commitments, and 23 managed aircraft on lease to 48 airlines globally.

Commenting on this transaction, Edward O’Byrne, Chief Executive Officer of AviLease, said: “In the two years since our launch, AviLease has been able to quickly operationalize and ramp up a profitable leasing platform thanks to our ability to deploy capital across multiple channels.”

On his part, Andy Cronin, Chief Executive Officer of Avolon, stated: “We are pleased to be partnering with AviLease once again following on from our successful transaction in 2023. Trading aircraft has always been an important element of our strategy, with over $13 billion of assets traded since Avolon was founded.”

AviLease is a full-service commercial aircraft lessor that is dedicated to delivering tailored fleet solutions to its airline partners. Its portfolio includes the latest generation and environment-friendly aircraft.