AviLease & SIRC sign MoU for production and distribution of sustainable aviation fuel in Saudi Arabia

AviLease & SIRC sign MoU for production and distribution of sustainable aviation fuel in Saudi Arabia

Riyadh: AviLease, the rising aircraft lessor, and the Saudi Investment Recycling Company (SIRC) have signed a Memorandum of Understanding (MoU) to launch the production and distribution of sustainable aviation fuel (SAF) to AviLease’s fast-growing network.

The partnership will allow both parties to advance the production and uptake of SAF, a global environmental imperative and cornerstone of The Kingdom’s Vision 2030, and meet a comprehensive set of targets on sustainability and economic diversification. Industry experts see SAF as a key lever to decarbonize aviation in the short term, using existing global aircraft fleets and infrastructure.

AviLease, will support the partnership by committing to an offtake agreement and will market SAF contracts to its global airline customer base. SIRC will act as financier and facilitator, assembling the necessary expertise in production technology and distribution capabilities to leverage the unique proposition of Saudi Arabia.

Mr. Edward O'Byrne, Chief Executive Officer, AviLease, said: “We see the fundamental role that SAF will play in the global decarbonization of aviation, especially in the short term. Through this unique partnership, we will be able to bundle the supply of SAF into our offerings, which we believe will trigger large-scale production of SAF in a country that has the natural competitive