Middle East

AviLease: PIF launches aircraft leasing company

Riyadh — — The Public Investment Fund (PIF) announced on Thursday the launch of its aircraft leasing company, Avi Lease.

With a focus on leasing, trading and asset management services, the company aims to be a leader in the entire aviation leasing value chain while maintaining an optimal portfolio of assets.

Initially, Avi Lease will focus on purchasing and leaseback transactions with airlines, portfolio acquisition, and scaling with direct orders from aircraft manufacturers. We will also consider expanding through acquisitions.

The company’s fleet consists of a new generation of narrow-body and wide-body aircraft from the world’s leading manufacturers.

Avi Lease plans to become the national champion of the aircraft leasing market and is managed by a leading team that leads growth, localizes knowledge and expertise, and enables the development of the infrastructure the company desires.

In addition, the company’s establishment will help reduce Saudi Arabia’s value breaches while strengthening its integration into the global aviation finance market.

As a wholly owned company of PIF, the fund’s sufficient liquidity and strong balance sheet, combined with its deep funding and investment structure expertise, will help the company take advantage of opportunities in the aircraft leasing market.

The launch of Avi Lease underscores PIF’s mission to unleash locally the capabilities of promising sectors that can drive economic diversification and contribute to non-oil GDP growth. In addition, the company will support the thriving aviation sector and promote financial sustainability within the aviation ecosystem in line with Vision 2030.

PIF is one of the largest and most influential sovereign wealth funds in the world. As of the end of the first quarter of 2022, assets under management reached approximately $ 620 billion across a diversified portfolio across 13 strategic sectors in Saudi Arabia and the world.

Since 2017, the fund has established 54 companies and created more than 500,000 jobs directly and indirectly by the end of 2021.

The fund plays a leading role in driving Saudi Arabia’s economic transformation and diversification and helping to shape the future of the world economy. —SPA

https://saudigazette.com.sa/article/622425/BUSINESS/AviLease-PIF-launches-aircraft-leasing-company?ref=rss&format=simple&link=link AviLease: PIF launches aircraft leasing company

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