Saudi carrier flyadeal expects 20–25% capacity growth on fleet expansion

The company’s historic expansion is set to begin in 2027, with a new aircraft delivery scheduled each month until 2029 to reach the planned fleet size. Supplied
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Updated 14 December 2025
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Saudi carrier flyadeal expects 20–25% capacity growth on fleet expansion

RIYADH: Saudi low-cost carrier flyadeal expects its capacity to grow by 20 to 25 percent next year as it expands its fleet, aiming for an “operational leap” with a total of 98 aircraft, CEO Steven Greenway told Al-Eqtisadiah. 

The company’s historic expansion is set to begin in 2027, with a new aircraft delivery scheduled each month until 2029 to reach the planned fleet size. 

The airline carried 11 million passengers this year, with projections of 12 to 13 million passengers next year as the expansion takes effect. 

It reported a 35 percent year-on-year increase in capacity this December, according to Greenway. The growth plan includes the addition of new aircraft types, notably the wide-body A330neo, which can carry 420 passengers. 

International route restructuring 

The wide-body aircraft, joining flyadeal’s fleet for the first time, will be capable of connecting Saudi airports on long-haul routes spanning from Western Europe to Southeast Asia. 

This will allow the airline to significantly expand its international network and develop a transcontinental operational structure to meet rising demand for travel to and from the Kingdom. 

In line with this, flyadeal plans to restructure its operations over the next two years to achieve a balanced mix of domestic and international flights. 

This mix represents a significant shift from the current operational structure, which relies on an 80 percent domestic and 20 percent international flight model. Greenway said the new structure shows a clear vision to support Saudi Arabia’s growing tourism openness and strengthen the Kingdom’s global connectivity. 

44th aircraft arrives by year-end 

The airline closed last year with a fleet of 36 aircraft, adding eight more this year. By the end of 2025, flyadeal will have 44 aircraft, with one final delivery expected next week, Greenway said. 

The short-term plan includes adding four new aircraft next year, bringing the fleet to 48, comprising traditional A320s, fuel-efficient A320neos, and A321s with 240 seats. 

Saudi aviation market 

The Kingdom’s aviation sector recorded notable growth last year, with passenger numbers exceeding 128 million, a 15 percent year-on-year increase. 

The General Authority of Civil Aviation reported more than 905,000 flights, up 11 percent from 2024, while air connectivity grew 16 percent to over 170 destinations worldwide. 

Air cargo also posted exceptional growth, rising 34 percent to 1.2 million tonnes. The four main airports in Riyadh, Jeddah, Dammam, and Madinah accounted for 82 percent of total air traffic last year. 


PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025

Updated 27 February 2026
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PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025

RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.

According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.

Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries. 

The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.

AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.

AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.

Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”

He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”

Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.

AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance. 

Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.