Lessor Avilease is adding 13 more machines to its fleet. The deal announced by the Saudi Arabian PIF subsidiary includes Boeing 737-Max-8, Airbus A320neo and A330neo, among others.

The Lessor was only founded last year to accelerate the growth of the airlines based in Saudi Arabia. The portfolio now consists of 45 aircraft. By the end of this decade you want to own at least 300 machines.

The customers of the lessor, which is owned by the state Public Investment Fund, include Saudia, Flynas and the future Riyadh Air. The latter is said to obtain a large part of the Initial fleet from Avilease.

"AviLease embarked on the journey over the past year with the ambitious goal of becoming a leader in the aircraft leasing value chain by building a diverse fleet of modern aircraft from leading global companies," said Fahad Al-Saif, Chairman of AviLease. “The deal with global leasing company Avolon is a true testament to our strength and unwavering purpose and will provide us with further opportunities for direct expansion. At AviLease, we aim to contribute to the development of the UK's aviation ecosystem and improve the financial sustainability of the sector, in line with the Public Investment Fund's strategy, which focuses on unlocking the potential of promising sectors and improving their global competitiveness in order to to achieve the goals of the Saudi Vision 2030”.