Riyadh – Sharikat Mubasher: AviLease, the rapidly expanding global aircraft lessor fully owned by PIF, announced 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, according to a press release.
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.”
BBAM is one of the world's largest dedicated managers of investments in leased commercial aircraft providing over 100 airline customers with fleet and financing solutions, and the only significant manager in the sector focused exclusively on generating investment returns on third-party capital.
