Saudi-owned aircraft lessor AviLease announced that it has closed a deal to place eight Airbus A320neo aircraft with Turkish Airlines.
Although the agreement was made public on April 7, 2025, two of these aircraft have already been delivered to the airline. The remaining six are scheduled to be delivered over the course of 2025.
No further details have been disclosed about this transaction, other than the fact that the leasing agreements are for the long term.
“These aircraft will support Turkish Airlines’ growth plans while contributing to their fleet modernisation strategy and sustainability goals,” stated AviLease’s Chief Executive Officer, Edward O’Byrne in a press release announcing the deal.
AviLease, which is owned by Saudi Arabia’s Public Investment Fund (PIF), is one of the entities expected to play a major role in the Kingdom’s strategy to become a major player in the global commercial aerospace industry.
Although relatively smaller than some leasing industry giants, since its foundation in 2022, AviLease has shown its determination to become one of the top 10 aircraft lessors in the world.
In 2023, AviLease acquired the aircraft leasing business of international bank Standard Chartered for $3.6 billion. The deal boosted AviLease’s portfolio to 167 aircraft, a figure that has since continued to increase. As of April 2025, the lessor has a portfolio of 200 aircraft, which are placed with some 48 airlines around the world.
Turkish Airlines has also been actively signing deals with lessors from all over the world, is attempting to expand capacity. The Turkish flag carrier aims to double its fleet to 800 aircraft by 2033.
Some recent transactions include the signing of a deal for six A321neo aircraft with Singapore-based lessor BOC Aviation in November 2024, and a December 2024 agreement to lease five aircraft of the same type from SMBC Aviation Capital, the Dublin-based leasing arm of Japanese-owned financial corporation SMBC Group.
