AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced it has signed lease agreements for two Boeing 737-800 aircraft. The aircraft will be operated by Mukamalah Aviation Company (a wholly owned subsidiary of Aramco), operating under the brand name "Aloula Aviation," for the transportation of Aramco Group passengers in Saudi Arabia.
The Aramco Group has been a long-time customer of AerCap through its helicopter business, Milestone Aviation, which is a leading provider of leased and financed helicopters.
Aengus Kelly, the CEO of AerCap, said, "We are pleased to expand our relationship with Aramco and Aloula from the leasing and financing of helicopters to passenger aircraft, highlighting the strong synergies across AerCap's business lines. We are proud to support Aloula with their first directly leased aircraft for passenger operations in the Kingdom of Saudi Arabia and wish them every success in their new venture."
Key data points: The market size in 2031 = $6.9 billion, growth forecast = 3.8% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities, and forecasts in the global flight inspection market to 2031 by solution (service and system), end use (commercial airports, defense airports, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download free sample pagesCaptain Khalid Alnatour, the CEO of Aloula Aviation, said: "Our continued partnership with AerCap marks an important step in Aloula Aviation's mission to provide top-tier aviation services in Saudi Arabia. With the addition of these Boeing 737-800 aircraft, we are better positioned to serve other key clients, advancing our shared commitment to the Kingdom's aviation development."
