At the start of the Paris Airshow on Monday, Saudi Arabia’s national airline placed a firm order for 30 single-aisle jets and 10 A350 freighters in its first direct deal with European aircraft manufacturer Airbus, via its leasing arm Avilease.
The options taken out by the company, which has a unit in Saudi Arabia, a three-year-old firm owned by the country’s public investment fund, also include the likelihood of the total purchase reaching 77 jets, according to the statement of AviLease CEO Ted O Byrne in a news conference.
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Riyadh Air, the latest airline of Saudi Arabia, and the ownership of PIF, also placed an order of 25 A350-1000s as the world’s largest aviation expo opened its doors on the exhibit’s first day.
The deals made at the air show are a partial correction of suppliers, following the fact that Gulf carriers have invested in Boeing and jets during American President Donald Trump’s recent visit to the area.
The aviation industry of Saudi Arabia is growing and developing as the kingdom spends billions of dollars under its plan to make its economy more diverse by reducing dependence on fossil fuels and enhancing the private sector’s outcomes as part of its Vision 2030 plan.
The cargo ship order follows trade tensions across the world. Old models are overdue to be replaced, and some projects to convert passenger-carrying planes are awaiting final approval.
AviLease manages and owns 200 aircraft and has established objectives of being among the global leaders in the lessor industry. In 2023, it purchased Standard Chartered’s jet leasing business for three and a half billion dollars.
