AviLease delivers first two of twelve Airbus A320neos to flynas
Riyadh, Kingdom of Saudi Arabia - 13 November 2022 : AviLease, the rapidly expanding, PIF-backed global aviation lessor, has successfully delivered the first two of its twelve Airbus A320neos on lease to Saudi carrier flynas, the leading low-cost airline in the Middle East. The milestone delivery is the first in the company’s history, following its launch in July this year. flynas is expected to receive the remaining aircraft by the end of 2023. The swift delivery speaks to the rapid expansion of the Saudi Arabia aviation sector, which will witness the region’s fastest passenger traffic growth through to 2040. AviLease, which has a mandate of supplying sustainable, efficient leasing and financing services to airlines, is already playing a major role in that expansion, and will continue contributing to the domestic sector at pace and scale. The Airbus A320neo is one of the most fuel-efficient, sustainable, and technologically advanced narrow-body aircraft on the market. This first delivery sets the tempo for AviLease, which is seeking to build a diverse portfolio of the most advanced, latest-generation narrow- and wide-body aircraft available. Edward O'Byrne, Chief Executive Officer, AviLease, said, “Today marks a significant moment in our story, and speaks to the operational pace and excellence we have set for ourselves at AviLease. From day one, we have focused on getting down to business, and these two deliveries, within four months of beginning operations, are testament to that. But this is just the start, as we look to support the burgeoning local aviation sector and drive sustainable value. I want to thank flynas, our first commercial partner—and themselves a fast-growing Saudi company—in showing their trust. We wish them continued success.” Bander Almohanna, Chief Executive Officer and Managing Director, flynas, said, "As one of the leading low-cost carriers in the region, we only seek partnerships that can significantly enhance our services. Our agreement with AviLease is designed to support our continued, sustainable growth plans through a modern and efficient fleet, equipping us for the foreseeable future. There is more to come from all players in this industry and we are proud to be a part of it. We congratulate AviLease also on this exciting occasion.” AviLease underlines PIF's mandate of unlocking the capabilities of priority sectors that can support the diversification of Saudi Arabia's economy and contribute to GDP growth. In addition, the company will be supporting a thriving aviation sector and driving 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. About AviLease AviLease is an aviation financing and leasing firm investing in the latest generation aircraft by way of purchase and lease-back transactions, secondary portfolio and direct orders from aircraft manufacturers. Wholly owned by PIF, AviLease has robust financial backing which will support its vision and rapid growth ambitions. Founded in June 2022, AviLease is headquartered in Riyadh, Saudi Arabia. The company's fleet will consist of the latest generation of narrow-body and wide-body aircraft from the world's leading manufacturers. An experienced international management team will lead the company's growth, localize knowledge and expertise, and enable the development of the company's infrastructure to become a national champion in the global aircraft leasing market. AviLease is a core element of Saudi Arabia's expanding aviation ecosystem and part of the country's Aviation Strategy to develop the leading aviation sector in the Middle East. flynas, the Saudi air carrier and the leading low-cost airline in the Middle East with 38 aircraft, operating more than 1500 weekly flights to 70 domestic and international destinations. Since its launch in 2007, flynas has transported more than 60 million passengers. Recently in 2022, flynas has been awarded the Skytrax Award as the Best Low-Cost Airline in the Middle East for the fifth time in a row 2017, 2018, 2019, 2021. In addition, it was ranked among the top 10 Low-Cost Airline worldwide, as per the prestigious Skytrax which is the most important global forum for the aviation industry. Also flynas has earned in 2022 the Middle East's Leading Low-Cost Airline award from the World Travel Awards for eight consecutive years (from 2015 till 2022) as well as it was ranked in the 4-star low-cost carrier category, the highest category of the low-cost airline in the world by APEX rating. For more information, please visit: For Inquiries, please contact: Rawan Al Hosban
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