The Saudi firm placed its first Airbus order, including 22 A350Fs and 55 A320neos, as it races to grow its $20bn portfolio

Saudi Arabian leasing company AviLease has placed its first direct order with Airbus, signing for 77 jets including 22 A350F freighters and 55 A320neo-family aircraft. The milestone deal, revealed on the opening day of the 2025 Paris Air Show, marks a strategic leap for the state-backed lessor as it targets global prominence in the aviation leasing market.

Deliveries are scheduled to begin in 2030 and run through 2033.

“This is a big moment,” said AviLease chief executive Edward O’Byrne at Le Bourget. “We’re working very hard with local stakeholders to build a strong and vibrant aviation ecosystem. The Saudi government wants to attract as many people to the kingdom as possible.”

Founded just three years ago as part of Saudi Arabia’s Vision 2030 diversification programme, AviLease is now pushing to become a major global player. The company already manages a fleet of 200 aircraft across 50 airlines, supported by $6 billion in capital raised from investors and government backers.

The order includes a mix of A320neos and A321neos, though notably excludes the longer-range A321XLR variant. Engine selection for the single-aisle aircraft is yet to be finalised.

The 22 A350F freighters, meanwhile, reflect a bold bet on future demand. O’Byrne said the widebody came out ahead in a “close competition,” and cited an impending wave of retirements among ageing cargo aircraft. “The A350F is the right aircraft at the right time,” he added, noting the growing need for new-generation freighters “beyond the kingdom.”

The Airbus agreement is the second direct aircraft order by AviLease this year. Earlier in 2025, the company signed for up to 30 Boeing 737 Max 8s — marking its first direct engagement with a manufacturer. This dual commitment signals a shift in AviLease’s strategy from passive acquisitions to more proactive fleet planning.

“Speculative direct orders are now the fourth prong in our acquisition strategy,” said O’Byrne. “We’re adding them to sale-and-leaseback deals, trades with other lessors like Avolon, and mergers — such as our tie-up with Standard Chartered. This gives us a complete toolbox for capital deployment.”

While the order cements AviLease’s relationship with Airbus, it also underscores Saudi Arabia’s broader ambitions to become a global aviation hub. Riyadh is investing billions into airport infrastructure, flag carriers, and regulatory frameworks to support a diversified and competitive air transport sector.

For Airbus, the announcement is a major win at the Paris Air Show, bolstering its A350F programme and strengthening its single-aisle order book. It also highlights the surging demand from Middle Eastern lessors seeking to match the region’s vast aviation growth.

Looking ahead, AviLease remains focused on building a $20 billion balance sheet by 2030 — a goal it now says it is “two years ahead of schedule.”

As O’Byrne put it: “We’ve built a solid foundation. Now we’re scaling up, globally and rapidly.”