Saudi Arabia’s Aircraft Leasing Company (AviLease) has signed long-term leases with state-owned Turkish Airlines for Airbus A320neo aircraft.
Two of the aircraft have already been delivered, with the remaining six scheduled for delivery throughout 2025, the airline said in a statement.
Riyadh-based AviLease’s CEO Edward O’Byrne, said these aircraft will support Turkish Airlines’ growth plans and contribute to their fleet modernisation strategy.
A subsidiary of the Public Investment Fund – Saudi Arabia’s sovereign wealth fund – AviLease’s portfolio comprises 200 owned and managed aircraft, including purchase commitments, that are on lease to 48 airlines.
In 2023 AviLease secured more than $1 billion in its inaugural funding round for general corporate purposes, including expanding its fleet.
The company signed its first leasing agreement with Flynas in 2022.
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