A Saudi Arabian firm, AviLease, has placed an order to purchase 13 new aircraft, including seven Airbus A320neos, two A330neos, and a Boeing 737 MAX 8. The deal was worth $1.5 billion. AviLease is a subsidiary of the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund.
The PIF is investing heavily in the aviation sector as part of its plan to diversify the country's economy. The new aircraft will be used to support AviLease's growing fleet. The company currently has 20 aircraft in operation, and it plans to add another 50 aircraft by 2025.
The purchase of the new aircraft is a sign of confidence in the Saudi aviation market. The country is expected to see strong growth in air travel in the coming years. The PIF's investment in AviLease is also a sign of the country's ambition to become a major player in the global aviation industry. Saudi Arabia is already home to a number of major airlines, including Saudia, Flynas, and the upcoming Riyadh Airways.
The purchase of the new aircraft is a significant boost for the Saudi aviation sector. It will help to support the growth of the industry and make Saudi Arabia a more attractive destination for air travel.