Saudi wealth fund to order 30 Boeing 737s during Trump visit

Saudi Arabia’s sovereign wealth fund is set to order 30 Boeing Co. single-aisle aircraft, as the kingdom lines up deals during President Donald Trump’s Middle East trip this week.

The Public Investment Fund plans to purchase 737 Max jets for aircraft leasing company AviLease, according to a person familiar with the matter, who asked not to be identified as the negotiations are confidential. 

AviLease and Boeing did not immediately reply to a request for comment. 

Some of the Middle East’s largest airlines are working to announce accords during Trump’s visit, which kicks off today. As with Trump’s previous trip to the region, any deals will likely be a mix of new sales, initial agreements and previously disclosed activity. Trump heads to Qatar later this week, where Qatar Airways will likely also place a major order, Bloomberg News reported last week.

Boeing Chief Executive Officer Kelly Ortberg is among corporate leaders accompanying Trump on his Middle East Tour. The visit by the US president this week is an opportunity for US companies to win lucrative deals in a region that’s keen to translate commercial orders into political capital. 

A purchase of about 30 737 MAX models would have a market value of more than $1.5 billion after discounts typically extracted by aircraft customers, based on estimates from aviation consultant Ishka.

AviLease was founded in 2022 and is among companies that the Saudi sovereign wealth fund has bankrolled as part of a push to turn the kingdom into a global trade, logistics and tourism hub, and pivot away from its reliance on oil. Avilease has a portfolio of 200 owned and managed aircraft on lease to 48 airlines globally.