Saudia partners with PIF-owned AviLease to get new planes on lease – The National
- Date: 17-Nov-2022
- Source: The National
- Sector:Transport
- Country:Saudi Arabia
Saudia partners with PIF-owned AviLease to get new planes on lease – The National
Saudi Arabia's aviation major Saudia Group has signed a sale and leaseback agreement with AviLease which is owned by the kingdom’s sovereign wealth fund, the Public Investment Fund.
Under the agreement, AviLease will deliver 20 Airbus A320neo aircraft to Saudia that will be operated on long-term leases by its low-cost carrier flyadeal.
“This sale and leaseback agreement with AviLease is an important deal for both companies, and an important step towards the realisation of the Saudi Aviation Strategy,” Ibrahim Al-Omar, Saudia’s director general, said.
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