Middle Eastern operator Saudia Group has become the latest to agree a fleet lease from new Riyadh-based lessor AviLease.

Saudia Group has entered a sale-and-lease transaction covering 20 Airbus A320neos.

The twinjets will be operated by the group’s budget arm Flyadeal.

Saudia Group director general Ibrahim Al-Omar says the agreement is an “important deal for both companies”.

He adds that it also marks an “important step” towards realising the Saudi Arabian 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,” says Al-Omar.

AviLease Saudia-c-AviLease

Source: AviLease

Saudia Group’s budget arm is entering an A320neo sale-and-leaseback

AviLease is owned by the Saudi sovereign Public Investment Fund. It has recently delivered its initial aircraft – the first two of a dozen – to Saudi operator Flynas.

“Our partnership [with Saudia Group] 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,” says AviLease chair Fahad Al-Saif.

Flyadeal’s A320neos will bring to 32 the total number of jets in the new lessor’s portfolio.