AviLease, the aircraft leasing arm of Saudi Arabia’s Public Investment Fund (PIF), has placed an order with Boeing for up to 30 737 MAX jets. This includes a firm purchase of 20 737-8 aircraft, with options for an additional 10. The deal underscores Saudi Arabia’s strategic push to diversify its economy and enhance its aviation sector.(Reuters)
Headquartered in Riyadh, AviLease manages a fleet of 200 aircraft leased to 48 airlines globally. The acquisition of the 737 MAX, known for its fuel efficiency and advanced technology, aligns with AviLease’s goal to modernize its fleet and meet the growing demand for air travel in the region .(Reuters)
This move is part of a broader initiative by Saudi Arabia to transform itself into a global aviation hub, aiming to attract 100 million visitors annually by 2030 . The order also reflects the strengthening ties between the U.S. and Saudi Arabia, with Boeing CEO Kelly Ortberg accompanying President Donald Trump on his Middle East tour to secure significant investments .(AP News, Reuters)
The announcement coincides with Boeing’s recent delivery of 45 commercial jets in April, nearly double the number from the previous year, indicating a positive trajectory for the company’s recovery .(Reuters)
This strategic partnership not only bolsters Boeing’s position in the Middle East but also aligns with Saudi Arabia’s Vision 2030.
