To add details

PARIS, June 16 (Reuters) - Saudi Arabian aircraft leasing company Aviles said on Monday it has placed a firm order for 30 Airbus narrowbody aircraft and 10 A350 freighters in its first direct deal with the European planemaker.

The company stated that the purchase agreement was signed during the 2025 Paris Air Show.

Ted O'Byrne, CEO of Aviles , a subsidiary of Saudi Arabia's Public Investment Fund, said at a press conference at the Paris Air Show that the company also acquired options that could bring the total purchase to 77 aircraft.

Reuters had previously reported that the Saudi company , founded three years ago, was close to placing an order with Airbus.

Riyadh Air, Saudi Arabia's newest airline and also owned by the Public Investment Fund, signed an order for 25 A350-1000 aircraft during the opening of the world's largest air show.

The airshow deals provide a partial balance for suppliers after Gulf airlines spent heavily on Boeing aircraft during US President Donald Trump's recent visit to the region.

Saudi Arabia's aviation sector is witnessing growth as the Kingdom invests billions of dollars in its Vision 2030 plan to diversify its economy away from oil and boost the private sector.

The request for freighters comes amid global trade tensions and as some existing freighters are nearing replacement.

"There is significant growth potential in the Saudi market, and the Saudi Aviation Strategy supports the more than doubling of the Kingdom's cargo and logistics infrastructure," O'Byrne said.

The exhibition was attended by a large Saudi delegation headed by the Minister of Transport.

Aviles owns and operates 200 aircraft and has set its ambitions to become one of the largest global leasing companies in the sector. In 2023, it agreed to acquire Standard Chartered's aircraft leasing arm for $3.6 billion.

The company said earlier this year that it plans to increase its budget from about $8 billion to about $20 billion by 2030, through acquisitions and purchasing aircraft from manufacturers or the market.

(Prepared by Sherine Abdel Aziz for the Arabic edition - Edited by Duaa Mohamed)