AerFin acquires Saudi Arabian Airlines’ fleet of 15 Embraer E170-LR aircraft

AerFin will acquire Saudi Arabian Airlines’ (Saudia) fleet of 15 Embraer E170-LR aircraft, including all the spare parts, engines, tooling and equipment necessary to support the entire fleet. The E170s, which have commonality with E175 and E190s, entered into Saudia operation from December 2005, and accumulated more than 350,000 flight hours over an average of 10 years with the airline. The last of the aircraft completed its last flight on December 19, 2016. Deliveries to AerFin are expected to commence in Summer 2017. The transaction, remarketed by Airstream International Group Limited, is a planned element of Saudia’s fleet growth and renewal plan, one of many initiatives in its transformation programme and strategic plan SV2020. Saudia will introduce a record 30 new aircraft in 2017.