AviLease & SIRC unite for production & distribution of SAF in Saudi Arabia

AviLease & SIRC unite for production & distribution of SAF in Saudi Arabia

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.

The company said that industry experts see SAF as a key lever to decarbonize aviation in the short term, using existing global aircraft fleets and infrastructure.

According to the statement, “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, stated that, “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 advantages to become a low-cost producer and has already made clear commitments towards energy