European aircraft manufacturing giant Airbus announced on Monday the signing of massive contracts with two Saudi companies on the first day of the Le Bourget Air Show north of Paris for approximately 65 aircraft of various models, worth a total of approximately $16 billion.
The European group received the first order from Saudi leasing company Avi Lease for 30 A320neo aircraft and 10 A350 freighters, with an estimated value of nearly $7 billion.
The agreement, which includes the possibility of expanding the contract to 22 A350F freighters and 55 A320neos, was signed in front of journalists.
"The addition of these more advanced aircraft will enhance our ability to offer modern and economical aircraft options to our airline partners in Saudi Arabia and around the world," said Edward O'Byrne, CEO of Airbus Commercial Aircraft.
Benoit de Saint-Exupéry, Airbus Chief Sales Officer, said, "This double order strengthens Airbus' capabilities and demonstrates the attractiveness of our products to leasing companies and their airline customers."
Avi Lease, a leasing company based in Riyadh, was founded in 2022 and has a fleet of 200 commercial aircraft (Airbus and Boeing) that it leases to 50 airlines in 30 countries.
The group also announced that Saudi Arabia's Riyadh Aviation has ordered 25 A350-1000 widebody aircraft for an estimated value of $9 billion, indicating that this order could potentially increase to 50 aircraft.
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