Saudi plane lessor AviLease has signed a deal for up to 77 Airbus planes, featuring a mix of freighters and narrow-body passenger jets, as it seeks to become one of the world's top 10 lessors by 2030.
The company signed an initial firm order for 10 A350F, the freighter variant of the A350 platform, along with 30 A321 Neo and A320 Neo planes during the first day of the Paris Air Show at Le Bourget. This could increase to 22 A350Fs and 55 A320 Neo jets, with added options included. The airline declined to disclose the value of the deal.
"It was a very hard fought-battle on the A350 vs the [Boeing] 777," Edward O’Byrne, chief executive of AviLease, said at a press briefing. "Frankly, it was a very close discussion because the two deals on the table both had pros and cons."
The company reviewed the offers from a technical, technology and economic standpoint and the A350F emerged as the winner, he said.
Negotiations over the past few months were intense, said Benoit de Saint-Exupery, Airbus executive vice president in sales of the commercial aircraft business. The signing ceremony kicked off Airbus's deal-making at the Paris Air Show.
AviLease has a fleet of nearly 200 aircraft, a mix of Boeing and Airbus jets. With a workforce of 90, it leases aircraft to 50 airlines in 30 countries.
Established in 2022, AviLease is backed by Saudi Arabia's Public Investment Fund, which is supporting the kingdom's economic diversification plan to develop non-oil sectors such as aviation, logistics and tourism.
AviLease is two years ahead of schedule for its goal to become one of the top 10 plane lessors by 2030, Mr O'Byrne said.
The Airbus deal comes after Boeing signed a $4.8 billion deal with AviLease for 30 737-8 passenger planes. The deal was signed during US President Donald Trump's visit to Riyadh last month.
The company expects the Airbus planes to be delivered between 2030 and 2033, its chief executive said.
Airbus, which has been facing supply chain issues that delayed deliveries to some of its customers, is confident in handing over these jets in time, Mr Saint-Exupery said.
While AviLease has not yet placed the jets with airline customers, Mr O'Byrne told The National the priority is for discussions with Saudi airlines and then global carriers.
"We started discussions and there is a big potential growth in Saudi markets," he said. The kingdom's aviation strategy calls for more than doubling its cargo and logistics infrastructure, he added.
"Saudi Arabia is clearly accelerating its economy, its diversification, and we need the infrastructure to support both cargo and passenger side," he said. He highlighted the "tremendous" size of investment in airports and logistics.
In April, Riyadh Air said it was considering an order for dedicated freighters after it makes a decision on an order for wide-body passenger planes.
The AviLease boss also said a vast wave of older freighters is being retired, combined with production limitations at Boeing and Airbus, creating a "market need" globally beyond Saudi Arabia.
Airbus is expected to dominate this year's Paris Air Show, as Boeing executives cancelled plans to attend after an Air India crash killed all but one of 242 people on board the US-built plane.
UAE currency: the story behind the money in your pockets
Diriyah%20project%20at%20a%20glance
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DIVINE%20INTERVENTOIN
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
Past winners of the Abu Dhabi Grand Prix
2016 Lewis Hamilton (Mercedes-GP)
2015 Nico Rosberg (Mercedes-GP)
2014 Lewis Hamilton (Mercedes-GP)
2013 Sebastian Vettel (Red Bull Racing)
2012 Kimi Raikkonen (Lotus)
2011 Lewis Hamilton (McLaren)
2010 Sebastian Vettel (Red Bull Racing)
2009 Sebastian Vettel (Red Bull Racing)
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Read more from Kareem Shaheen
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
The line up
Friday: Giggs, Sho Madjozi and Masego
Saturday: Nas, Lion Bbae, Roxanne Shante and DaniLeigh
Sole DXB runs from December 6 to 8 at Dubai Design District. Weekend pass is Dh295 while a one day pass is Dh195. Tickets are available from www.soledxb.com
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
RESULT
Huddersfield Town 1 Manchester City 2
Huddersfield: Otamendi (45' 1 og), van La Parra (red card 90' 6)
Man City: Agüero (47' pen), Sterling (84')
Man of the match: Christopher Schindler (Huddersfield Town)
Calls
Directed by: Fede Alvarez
Starring: Pedro Pascal, Karen Gillian, Aaron Taylor-Johnson
4/5
Specs
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LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Mohammed bin Zayed Majlis
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Porsche Taycan Turbo specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 1050Nm
Range: 450km
Price: Dh601,800
On sale: now
