AviLease, a global commercial aircraft lessor, has placed an initial order for 10 A350F freighters and 55 A320neo family aircraft on the opening day of the Paris Air Show.
This agreement also leaves open the possibility of increasing this order volume to 22 A350F and 55 A320neo aircraft, Airbus added.
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Since its establishment only three years ago, the Public Investment Fund entity comprising 90 employees, based in Riyadh, Saudi Arabia, has acquired a fleet of at least 200 commercial aircraft – including Airbus and Boeing aircraft. The company have leased the jets to 50 airlines spanning 30 countries.
AviLease acknowledged, however, that the decision was a “hard-fought battle” between the A350 and the Boeing 777.
“We reviewed the platform from a technical standpoint, from a technology standpoint, from an economical standpoint, and from a deal standpoint,” said Edward O’Byrne, the chief executive of AviLease.
“So on those dimensions, the Airbus A350 came out on top – in this case.”
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By GlobalData“But things change,” he said in earnest, “so I don’t want Airbus to be too comfortable either,” O’Byrne joked.
Airbus selection
The A350F has the largest main deck cargo door in the commercial aviation industry, with a fuselage length and capacity designed to load the industry’s standard pallets and containers.
The freighter is also the only one of its type that will fully meet the International Civil Aviation Organisations’s enhanced CO₂ emissions standards, coming into effect in 2027.
Meanwhile, the A320neo includes new generation engines, Sharklets and cabin efficiency enablers, which together, Airbus claimed, deliver 20% fuel savings.
AviLease, PIF strategy
The PIF is one of the largest sovereign wealth funds in the world. As of Q1 2025, its assets under management reached more than $900bn. Sitting within a network of 93 companies, AviLease’s portfolio value is $7.3bn.
“We’re able to operationalise the company, not only with the capital of PIF but also with the experience of the PIF to help us grow the platform, operationalise the entity so we could focus on building a business.
“That has been a true differentiator for us,” O’Byrne specified, emphasising how the compnay can serve the Kingdom, and bring more capital to the Gulf country.
“We worked throughout the last year with key stakeholders, airlines, GECA, etc. to look at the different options available in the market, and we ended up selecting the A350.”
Reporting by John Hill in Paris
