AviLease, a startup aircraft lessor in Saudi Arabia, is entering the air cargo market with an order for 10 large Airbus A350 cargo jets. Airbus announced the deal at the Paris Air Show on Monday.
The deal brings total Airbus orders for the next-generation A350 freighter to 73.
AviLease has an option to purchase 11 additional widebody freighters at a later date.
“The addition of these latest generation aircraft enhances our ability to offer modern, fuel-efficient fleet solutions to our airline partners in Saudi Arabia and around the world,” AviLease CEO Edward O’Byrne said in a joint news release.
Demand for widebody freighters is increasing as much of the existing fleet ages and cargo volumes grow at about 4% per year.
No timetable was given for when AviLease will receive the aircraft. Airbus earlier this year postponed the rollout of the all-new A350 freighter until late 2027 because of persistent production challenges at supplier Spirit Aerosystems.
The A350F, powered by Rolls-Royce Trent XWB-97 engines and with 70% of the airframe made of advanced composite materials, is expected to be 20% more fuel efficient than the Boeing 777 and older Boeing 747-400 freighters, according to Airbus. The manufacturer said the lightweight materials will make the plane 50 tons lighter than the Boeing 777X freighter, which is also in late development.
The aircraft is designed to carry up to 120 tons with a maximum range of 4,700 nautical miles. It will feature the industry’s largest main deck cargo door to ease loading of shipping containers and out-of-gauge cargo. The large cargo door offers the option of using 20-foot shipping containers, something that is rarely, if ever, done with traditional side-loading aircraft, said Crawford Hamilton, head of freighter marketing at Airbus, in an interview last year with STAT Media Group.
AviLease, which is owned by Saudi Arabia’s Public Investment Fund, was established three years ago as part of the government’s 2030 strategy to develop the aviation sector and diversify the oil-based economy. It currently owns and manages 200 aircraft after acquiring an Irish leasing company and engaging in sale-leasebacks with airlines.
Last month, Taiwan-based China Airlines agreed to buy four next-generation Boeing 777-8 cargo jets. Boeing has received commitments for more than 50 777-8s.
In related news, startup carrier Riyadh Air placed a firm order for 25 A350-1000 passenger aircraft. The airline is gearing up to begin service later this year.
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