Riyadh: AviLease, a Public Investment Fund (PIF) company, today announced in a press release the successful delivery of three Airbus A320neo aircraft to SDH Wings International Leasing Limited, a joint venture with the Chinese sovereign fund in which AviLease holds a 10% stake.

According to Saudi Press Agency, this transaction marks a new stage in the collaboration between the two partners and is part of a broader memorandum of understanding (MoU) to acquire a further 20 predominantly new-technology aircraft.

Under the MoU, AviLease will support SDH Wings in expanding its fleet portfolio while strengthening the partnership with Sichuan Development International Holdings (SDIH), the majority shareholder of SDH Wings.