Saudi Arabia-based leasing company to buy 10 Airbus A350 freighters

AviLease order marks first direct purchase from an aircraft manufacturer

AviLease has committed to buy 10 Airbus A350 freighters and plans to rent them to airlines. (Computer Generated Image: Airbus)

Key Takeaways:

  • AviLease, a Saudi Arabian aircraft lessor, ordered 10 Airbus A350F cargo jets with options for 11 more, boosting the A350F order book to 73.
  • This purchase reflects the growing demand for widebody freighters due to aging fleets and increasing cargo volumes.
  • The A350F, slated for delivery in late 2027, offers improved fuel efficiency and a larger cargo door compared to competitors.
  • AviLease, backed by Saudi Arabia's Public Investment Fund, aims to expand its fleet and contribute to the nation's aviation sector development.

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. 

Click here for more FreightWaves/American Shipper stories by Eric Kulisch.

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Eric Kulisch

Eric is the Supply Chain and Air Cargo Editor at FreightWaves. An award-winning business journalist with extensive experience covering the logistics sector, Eric spent nearly two years as the Washington, D.C., correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility, fuel economy and safety. He has won two regional Gold Medals and a Silver Medal from the American Society of Business Publication Editors for government and trade coverage, and news analysis. He was voted best for feature writing and commentary in the Trade/Newsletter category by the D.C. Chapter of the Society of Professional Journalists. He was runner up for News Journalist and Supply Chain Journalist of the Year in the Seahorse Freight Association's 2024 journalism award competition. In December 2022, Eric was voted runner up for Air Cargo Journalist. He won the group's Environmental Journalist of the Year award in 2014 and was the 2013 Supply Chain Journalist of the Year. As associate editor at American Shipper Magazine for more than a decade, he wrote about trade, freight transportation and supply chains. He has appeared on Marketplace, ABC News and National Public Radio to talk about logistics issues in the news. Eric is based in Vancouver, Washington. He can be reached for comments and tips at ekulisch@freightwaves.com