AviLease purchases 787-9 aircraft from BBAM

The Saudi PIF-owned AviLease has purchased a 787-9 aircraft from global lessor Babcock & Brown Aircraft Management (BBAM). “We view this transaction as the beginning of a strong trading partnership,” said AviLease CEO Edward O’Byrne. “The Boeing 787-9, as new technology, fuel-efficient aircraft aligns well with our investment strategy. This acquisition further supports the yield of our portfolio.” BBAM president & CEO Steve Zissis added: “We are happy to do our first deal with AviLease and look forward to further collaboration as AviLease becomes a significant lessor to airlines around the world.”