Buraidah Date Festival Sales Exceed SAR 62 Million within One Week    Hong Kong Eases Quarantine for Overseas Arrivals    Forest Fire Area in Russia up Almost 6,000 Hectares in 24 Hours    HRH Crown Prince Congratulates President of Singapore on National Day    Weather Forecast for Monday    MWL Condemns Storming in Courtyards of Al-Aqsa Mosque by Israeli Settlers    King Salman receives letter from Zambian President    Foreign or joint capital makes up 39% of Saudi industrial investments    MoH: Private health firms not allowed to detain patients or their dead bodies over financial dues    Saudi Arabia: Israeli settlers' storming of Al-Aqsa courtyards a gross violation    Twitter breach exposed anonymous account owners    Thousands stranded in China resort city amid COVID lockdown    Manchester United must let Ronaldo leave, says Rooney    THE LINE Exhibition Attracts Visitors with Visual Display Technologies, 50 Daily Tours    Buraidah Date Festival Enhances Saudi Date Exports    TRSDC completes construction of Shurayrah, longest water bridge in Saudi Arabia    Pilot and companion rescued as plane crashes in Al-Huraidah, Asir    CITC Performs First Global Live Demo of an End-to-end AFC System to Enable Wi-Fi 6E Technology    Ministry of Foreign Affairs: Saudi Arabia condemns and denounces attack carried out by the Israeli occupation forces on Gaza Strip    Weather Forecast for Sunday    Minister of Industry: Percentage of National Products Displayed in Some Retail Stores Reaches 70%    Saudi Arabia wins gold in Special Olympics Unified Cup in Detroit    SFDA: All food in Saudi Arabia is halal    Saudi team for Special Olympics Unified Football wins gold medal of World Cup    Saudi Arabia arrests 14,509 illegals in a week    MHRSD: Talks underway to bring in house workers from Philippines Saudi Arabia targets domestic help from more Asian and African countries    31 Saudi women start driving high-speed train between Makkah and Madinah    Musk says Twitter deal should go ahead if it provides proof of real accounts    Evergrande gets $818m as football stadium land deal canceled    A myth about depression?    Kerala: Remembering Afra Rafeeq, whose viral video saved her brother    Batgirl: Directors shocked at film's cancellation    Napoli boss won't sign Africans unless they skip African Cup    Egyptian U20 Football National Team Beats Algerian Counterpart to Qualify for 2022 U-20 Arab Cup Final Match    Saudi Arabia to Participate in the 5th Islamic Solidarity Games in Turkiye    SAUDIA Brings New Immersive Experiences to London    Association of Culture and Arts in Dammam Announces Winners of "International Video Art Forum"    Slaughterhouses of MEWA received more than 600,000 sacrifices in 3 days of Eid    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    MoH Activates Sign Language to Communicate with Pilgrims with Deafness or Muteness During Hajj    Sheikh Al-Issa at Arafat sermon: Values of Islam foster harmony; eschew hatred and division    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Council of Scholars urges pilgrims to stay away from divisive acts    Red Sea Fund Opens Its Third Cycle for Production Funding    SFDA Warns Against Herbal Product "Montalin Jamu" Due to Containing Active Medicinal Ingredients    Makkah Municipality offers animal sacrifices permitting service through Baladi platform    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    Pilgrims Perform Dhuhr and Asr Prayers at Arafat Holy Site    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



PIF Launches "AviLease", an Aircraft Leasing Company
Published in Saudi Press Agency on 30 - 06 - 2022

The Public Investment Fund (PIF) today announced the launch of the Aircraft Leasing Company "AviLease", which aims to be a leading institution across the aviation leasing value chain, maintaining an optimal portfolio of assets with its core focus on leasing, trading and asset management services.
"AviLease" will initially focus on scaling through purchase-and-lease-back transactions with airlines, portfolio acquisitions and direct orders from aircraft manufacturers. It will also look into expansions through corporate acquisitions. The company's fleet will consist of the new generation of narrow-body and wide-body aircraft from the world's leading manufacturers.
"AviLease" is managed by a top-tier team that will lead its growth, localize knowledge and expertise, and enable the development of the company's desired infrastructure, with plans to become a national champion in the aircraft leasing market. Additionally, the company's establishment will contribute to the reduction of value leakage for Saudi Arabia, while enhancing integration into the global aircraft financing market.
As a PIF fully owned company, PIF's ample liquidity and strong balance sheet, combined with its depth of financing and investment-structuring expertise will help the company leverage the opportunity in the aircraft leasing market.
The launch of "AviLease" underlines PIF's mandate to unlock the capabilities of promising sectors locally that can help drive the diversification of the economy and contribute to non-oil GDP growth. In addition, the company will be supporting a thriving aviation sector and driving financial sustainability within the aviation ecosystem in line with Vision 2030.
PIF is one of the largest and most impactful sovereign wealth funds in the world. As of the end of Q1 2022, its Assets under Management had reached approximately $620 billion, across a diversified portfolio spanning 13 strategic sectors in Saudi Arabia and globally. Since 2017, the Fund has established 54 companies and created, directly and indirectly, more than half a million jobs as at the end of 2021. PIF plays a leading role in advancing Saudi Arabia's economic transformation and diversification, as well as contributing to shaping the future of the world economy.


Clic here to read the story from its source.