Irish lessor Avolon has sold 33 commercial aircraft, including Boeing 737 MAXs, Airbus A330s and A350s to Qatar-based Lesha Bank.
On September 28, 2026, both Avolon and Lesha Bank confirmed they had signed a sale and purchase agreement for the aircraft, currently on lease to 25 airlines globally.
In a joint statement, the two parties said the transaction represented a “significant milestone” in the development of their relationship.
The companies added that the agreement “demonstrates the depth of institutional capital seeking exposure to leased aircraft and the continued strength of demand for high-quality aviation assets”.
A filing on the Shenzhen Stock Exchange by Avolon’s owner Bohai Leasing provided further details about the transaction.
According to the filing, Avolon signed the agreement with LAC Leasing Ireland 1, an entity established by Lesha Bank for the transaction.
The value of the 33 aircraft is placed at $1.609 billion, although the actual selling price will be determined through negotiation between the two parties.
The agreement covers 22 narrowbody aircraft, including eight A320s, three A321s, eight Boeing 737-800s, 737 MAX 8s and a single A320neo series.
The nine widebodies consist of five A330s, an A330neo, and three A350s. Two ERJ190 regional aircraft are also included in the deal.
All aircraft delivered by end of March 2027
“Upon delivery of each aircraft, the corresponding payment will be transferred to a designated bank account of an Avolon subsidiary or an entity with economic interests,” the filing stated. “Delivery of all aircraft is expected to be completed by March 31, 2027.”
The Bohai Leasing filing added: “This transaction will help optimize the company’s aircraft asset structure, maintain a youthful, leased fleet, and have a positive impact on the company’s current and future annual profits.”
In Lesha Bank’s statement, Mohammed Ismail Al Emadi, Group CEO, said: “This acquisition reflects the disciplined approach we have taken to building scale in aviation leasing. Adding a portfolio of this caliber, with established lessees and a strong technology mix, reinforces the resilience and long-term earnings profile we are targeting across our Shari’a-compliant aviation portfolio. Managed through Lesha Aviation Services we expect this portfolio to deliver stable, diversified returns for years to come.”
Andy Cronin, CEO of Avolon, commented: “We are pleased to partner with Lesha Bank on this significant transaction. Aircraft trading is a core part of Avolon’s strategy, enabling us to actively manage our portfolio, realise value and recycle capital. This agreement reflects the continued strength of investor demand for aviation assets and the scale and capabilities of Avolon’s global platform.”