SAUDIA Group signs leasing agreement with AviLease for 20 new aircraft

SAUDIA Group, the aviation holding company that owns SAUDIA and flyadeal, has signed a sale and leaseback agreement with AviLease company (owned by Public Investment Fund (PIF). The agreement will see AviLease deliver 20 Airbus A320neo aircraft to be operated on long-term leases by flyadeal, SAUDIA Group’s low-cost carrier (LCC). Commenting on the deal, Ibrahim Al-Omar, Director General of SAUDIA, said: “This sale and leaseback agreement with AviLease is an important deal for both companies, and an important step towards the realization of the Saudi Aviation Strategy. In the few months since it was launched, AviLease has already established itself