AviLease, a company owned by the Saudi Public Investment Fund (PIF), announced the acquisition of a Boeing 787-9 aircraft from Babcock & Brown Aircraft Management (BBAM), a leading global lessor managing $18 billion in aviation assets.
This transaction represents the inaugural partnership between AviLease and BBAM, adding the first Boeing 787-9 on operating lease to AviLease’s growing fleet. Additionally, this acquisition introduces a new airline customer based in the Americas to AviLease’s portfolio.
AviLease CEO Edward O’Byrne expressed gratitude to BBAM, noting their appreciation for the partnership. He further described the transaction as the beginning of a strong trading relationship and highlighted that the Boeing 787-9, with its advanced technology and fuel efficiency, aligns well with their investment strategy and improves their portfolio yield.
BBAM CEO and President Steve Zissis expressed enthusiasm about completing their first deal with AviLease and conveyed his anticipation for future collaboration, noting that AviLease is set to become a significant lessor for airlines worldwide.
Read more: Riyadh welcomes first refurbished Emirates Boeing 777
Earlier this month, Riyadh became the first destination in the GCC to receive the refurbished Emirates Boeing 777, featuring the all-new Business Class cabin and highly praised Premium Economy seats.
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