Saudi PIF’s AviLease delivers first tranche of six aircraft to Indian airline

AviLease, owned by the Public Investment Fund, has delivered two aircraft to an Indian airline, marking the initial delivery of six planes scheduled for 2024.

The global aircraft lessor announced the delivery of Boeing 737-8 jets to Air India Express Ltd. with plans to lease four additional aircraft within the current year.

An AviLease statement said these type of planes are one of the most fuel-efficient, sustainable, and technologically advanced narrow-body aircraft on the market.

It added that these deliveries set the tempo for AviLease, as it aims to build a diverse portfolio of the most advanced, latest-generation narrow- and wide-body aircraft available.

AviLease CEO Edward O’Byrne said the company is delighted to deliver the first two of six new Boeing 737-8 aircraft to its Indian client.

“Our partnership with Air India continues to strengthen under Tata Group ownership and we are proud to support their fleet modernization program. We wish the Air India Express team continued success with their commitment to provide affordable and reliable air travel to its customers.” O’Byrne said.

The full-service commercial aircraft lessor highlighted its role in fulfilling PIF’s mandate to unlock the potential of priority sectors, supporting the diversification of Saudi Arabia’s economy and contributing to non-oil gross domestic product.

AviLease, which was established in 2022, noted that the two-aircraft delivery reaffirms its rapid global expansion.

With a portfolio value of $6 billion, the company is dedicated to providing tailored fleet solutions to its airline partners.