Hassana Investment Company and AviLease, which specializes in aircraft financing and leasing and is owned by Saudi Arabia's Public Investment Fund, announced the establishment of a joint aircraft leasing platform, in a move that strengthens the growing role of Saudi investment institutions in the aviation sector.
Under the agreement, Hassana will own a majority stake in the new venture, while AviLease will provide aircraft services to the platform, alongside its acquisition of a portfolio of 10 aircraft currently leased to Saudi airlines, according to the Saudi Press Agency.
These aircraft are modern and fuel-efficient, in line with the Kingdom's goals of enhancing sustainability and operational efficiency under the Saudi aviation strategy.
Hani Al-Juhani, Acting CEO and Chief Investment Officer of Hassana, explained that the partnership represents a commitment to investing in high-quality assets that generate sustainable, long-term cash flows, and affirmed the company's aim to strengthen its presence in the aircraft leasing sector and support the Kingdom's broader aviation aspirations.
For his part, Fahad Al-Saif, Chairman of AviLease, affirmed that this step reflects the pivotal role of Saudi investment institutions in supporting Saudi Vision 2030 and enhancing the private sector's contribution to the growth of the aviation industry.
Edward O'Byrne, CEO of AviLease, noted that the new venture represents a fundamental stage in building a strong and flexible platform to support the sector's expansion locally and globally, with future deals expected to expand the scope of the aircraft leasing market internationally.
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