Qatar’s Lesha Bank has announced the purchase of 33 leased aircraft from Irish aircraft lessor Avolon, marking its second significant aircraft acquisition within a month. The jets, leased to 25 airlines across the globe, are scheduled to be managed by Lesha Aviation Services upon completion of the transaction. While the financial details and closing date remain undisclosed, FlightGlobal estimates the portfolio at approximately USD 1.6 billion, comprising nine widebody and 24 narrowbody aircraft.
This acquisition is projected to boost Lesha’s total aircraft holdings to over 75, after previously reporting a portfolio of 46 aircraft valued around USD 3.3 billion on its website. Including the new Avolon jets, the total count could reach 79 aircraft, although the exact inclusion of these in the website’s figures is yet unclear. Lesha’s strategic expansion is driven by persistent delivery delays from Airbus and Boeing, which have resulted in backlog periods exceeding 11 years and increased lease rates for in-service fleets.
Regional industry movements and Lesha’s background
Lesha’s growth timeline over two years includes acquiring five Boeing 777-300ERs in late 2024, investing indirectly in Edinburgh Airport in April 2025, establishing operations in Dublin and London by mid-2025 and August 2026 respectively, amidst expanding regional leasing activities. Other regional players such as Dubai Aerospace Enterprise and AviLease have completed notable deals, underlining the region’s elevated focus on aircraft leasing amid supply chain constraints.
"The recent acquisitions reflect Lesha’s strategic response to the supply chain delays and increased lease demands,” said industry analysts. “This expansion signals growing confidence among Gulf lessors in the stability of regional and international markets."
