AviLease, an aviation financing and leasing firm headquartered in Riyadh, has purchased Boeing 787-9 aircraft from BBAM, a leading global lessor with $18 billion in aviation assets under management.
This transaction marks the first collaboration between AviLease and BBAM as well as the introduction of the first Boeing 787-9 on operating lease to AviLease’s growing fleet. Furthermore, the acquisition brings a new airline customer, based in the Americas, into AviLease’s portfolio.
Edward O’Byrne CEO – AviLease
“We would like to thank our partner BBAM. We view this transaction as the beginning of a strong trading partnership. The Boeing 787-9, as new technology, fuel-efficient aircraft aligns well with our investment strategy. This acquisition further supports the yield of our portfolio.”
“We are happy to do our first deal with AviLease and look forward to further collaboration as AviLease becomes a significant lessor to airlines around the world,” added Steve Zissis, CEO & President of BBAM.
BBAM, established in1989, provides more than 100 airline customers with fleet and financing solutions, and it is the only significant manager in sector focused exclusively on generating investment returns on third-party capital. BBAM’s global team exceeds 150 professionals and has more than 500 aircraft under management.
AviLease, fully owned by PIF, has robust financial support and excellent competencies which will support its vision and ambitious growth plans. The company’s portfolio consists of the cutting-edge narrow-body and wide-body aircraft from the world’s top manufacturers.
With seasoned management team comprised of local and international experts, AviLease is poised for success. By localizing knowledge and expertise, the company is building a strong foundation to emerge as a national champion in the global aircraft leasing market.
