• AviLease continues to supply sustainable, efficient leasing and financing services to airlines across the world.
  • AviLease’s rapid global expansion supports PIF's mandate to unlock the capabilities of the Kingdom’s aviation sector to support economic diversification.

Riyadh, KSA:​​​​– AviLease, the rising global aircraft lessor wholly owned by PIF, Saudi Arabia’s sovereign wealth fund, has successfully delivered four Airbus A321neo aircraft on lease to Colorado-based low cost operator Frontier Airlines. These are the first of six next generation aircraft that will be delivered in 2024.

The Airbus A321neo is one of the most fuel-efficient, sustainable, and technologically advanced narrow-body aircraft on the market. These deliveries set the tempo for AviLease, which is seeking to build a diverse portfolio of the most advanced, latest-generation narrow- and wide-body aircraft available, and an ever-increasing client portfolio.

Edward O'Byrne, Chief Executive Officer, AviLease, said: “We are thrilled to deliver the first four of six new A321neo aircraft to Frontier Airlines. Our partnership with Frontier continues to strengthen and we are proud to support their fleet modernization with the A321neo, one of the most in-demand aircraft in the world. We wish the Frontier team continued success with their commitment to provide affordable and reliable air travel.”

AviLease fulfils PIF's mandate to unlock the capabilities of priority sectors that can support the diversification of Saudi Arabia's economy and contribute to non-oil GDP growth. In addition, the company supports a thriving aviation sector and drives financial sustainability within the aviation ecosystem, in line with Vision 2030. AviLease will continue to drive local economic opportunities and create direct and indirect jobs for the KSA community in the aviation and financial sectors.

The latest delivery reaffirms the rapid global expansion of AviLease, which has a mandate to supply sustainable, efficient leasing and financing services to airlines across the world and is already playing a major role in the expansion of the Kingdom’s aviation ecosystem.

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About Avilease:

AviLease is an aviation financing and leasing firm investing in the latest generation aircraft through purchase and lease-back transactions, portfolio trades and direct orders from aircraft manufacturers, aiming to contribute to the development of the aviation ecosystem.

Fully owned by PIF, AviLease has robust financial support and outstanding competencies which will support its vision and rapid growth ambitions. Founded in June 2022, AviLease is headquartered in Riyadh, Saudi Arabia. The company's portfolio consists of the latest generation of narrow-body and wide-body aircraft from the world's leading manufacturers. 

With a seasoned management team comprised of local and international experts, AviLease is poised for growth. By localizing knowledge and expertise, the company is building a strong foundation to become a national champion in the global aircraft leasing market.

For more information:
Rawan Al Hosban
Memac Ogilvy
Rawan.alhosban@ogilvy.com