RIYADH, October 14, 2024: AviLease, the rapidly expanding global aircraft lessor fully owned by PIF, is pleased to announce the acquisition of a Boeing 787-9 aircraft from BBAM, a prominent global lessor with $18 billion in aviation assets under management.

The transaction marks the first collaboration between AviLease and BBAM and introduces the first Boeing 787-9 on operating lease to AviLease’s expanding fleet. Furthermore, the acquisition brings a new airline customer, based in the Americas, into AviLease’s portfolio.

Edward O’Byrne, Chief Executive Officer of AviLease, commented: “We would like to thank our partner BBAM. We view this transaction as the beginning of a strong trading partnership. The Boeing 787-9, as new technology, fuel-efficient aircraft aligns well with our investment strategy. This acquisition further supports the yield of our portfolio.”

Steve Zissis, CEO & President of BBAM, commented: “We are happy to do our first deal with AviLease and look forward to further collaboration as AviLease becomes a significant lessor to airlines around the world.”