In a bid to strengthen its expanding aviation portfolio, Saudi Arabia’s Public Investment Fund (PIF) will order 30 Boeing 737 Max aircraft during the showpiece visit of former U.S. President Donald Trump to the kingdom. The aircraft will be purchased for AviLease, a state-owned aircraft leasing business owned by PIF.
The transaction highlights increasing economic cooperation between the U.S. and Saudi Arabia, and supports the kingdom’s Vision 2030 strategy to diversify revenues and make Riyadh a global transportation hub. AviLease, established in 2022, is at the heart of this vision, seeking to become a global leader in aircraft leasing and aviation finance.
Industry sources indicate the agreement, which could be worth more than \\$3 billion, indicates Saudi Arabia’s faith in Boeing’s next-generation fuel-efficient planes. It is also a big victory for the US aerospace giant as it tries to bounce back from recent worldwide failures.
The declaration is to be made at a business forum in Riyadh, where Trump will speak to Saudi and American business leaders, including Elon Musk. The timing underscores a symbolic act of reciprocal investment and strategic partnership between the two countries.
