Riyadh-based aircraft financing firm AviLease, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), has acquired nine aircraft from Irish lessor Avolon. This follows a previous deal to purchase 13 aircraft from Avolon in 2023. AviLease CEO Edward O’Byrne expressed his satisfaction with the partnership, highlighting how AviLease, established only two years ago, has quickly built a profitable leasing platform by deploying capital effectively across various channels.

Avolon’s CEO, Andy Cronin, also emphasized the value of the collaboration, noting that trading aircraft has been a key part of their strategy, with over $13 billion in assets traded since Avolon’s founding. The newly acquired aircraft will enhance AviLease's fleet diversification and are expected to generate strong returns. AviLease's portfolio now consists of 167 owned aircraft and 23 managed aircraft leased to 48 airlines worldwide.