AviLease makes 1st direct Boeing order for 737 MAX jets

Boeing and Saudi Arabian lessor AviLease announced the lessor has placed its first direct order for Boeing airplanes with a firm purchase for 20 737-8 jets and options for 10 more. The deal enables AviLease to scale up its growing portfolio and provides its customers with the latest generation, fuel-efficient aircraft. “We are pleased to conclude our first direct Original Equipment Manufacturer (OEM) order, complementing our growth strategy towards being at the top of the industry,” said Edward O’Byrne, CEO of AviLease. “Building on our recently achieved investment grade ratings, this transaction proves our ability to transact across all market channels, including sale and lease-back, secondary trading, M&A and now direct OEM purchasing. These new aircraft will accelerate our growth and enable us to deliver the industry’s latest generation, fuel–efficient fleet solutions. We extend our gratitude to the Boeing team for the strong long-term relationship we have built.” The single-aisle order aligns with the Kingdom of Saudi Arabia’s strategic plan to transform the country into a global aviation hub. The airplanes will support the country’s goal of serving 330 million passengers and attracting 150 million visitors annually by 2030. “We are honoured to strengthen our relationship with a key Saudi Arabian commercial aviation partner and expand the global 737 MAX fleet,” said Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing. “The 737 MAX will diversify AviLease’s portfolio by delivering unrivalled fuel efficiency and market-leading versatility. It’s a powerful combination that will fuel AviLease’s profitable global expansion and support their airline customers’ business and sustainability goals.” Lessor Avolon’s rating upgraded by Fitch and Moody’s Global aviation finance company Avolon announced that Fitch Ratings and Moody’s Ratings have upgraded its issuer and senior unsecured notes ratings. Fitch has upgraded Avolon from BBB- to BBB, and Moody’s has upgraded Avolon from Baa3 to Baa2, both with a stable outlook. Fitch and Moody’s have also made similar upgrades to their issue-level rating on all outstanding senior unsecured notes issued by Avolon’s wholly owned subsidiary, Avolon Holdings Funding Limited. Ross O’Connor, Avolon CFO, commented: “The upgrades from Fitch and Moody’s reflect our continued strong financial performance and disciplined growth. These improved ratings highlight the strength of our balance sheet and high levels of liquidity, positioning us to build on our financial success to date.” For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Kay Rolland at [email protected]