News 24 | To contribute to the development of the aviation sector in the Kingdom.. Investments announces the launch of an aircraft leasing company

Public Investment FundThe Public Investment Fund announced today (Thursday) the launch of the aircraft leasing company “AviLease”, with the aim of contributing to the development of the aviation sector system in the Kingdom.

AviLease will expand its operations by purchasing and leasing aircraft, as well as executing direct purchase orders from aircraft manufacturers.

The company will have an investment side that includes acquisitions of portfolios and companies, as well as establishing a diversified fleet of modern aircraft manufactured by the largest leading companies in the world.

The company will be led by a group of experts in the aviation sector, as it will seek to open new horizons for the localization of knowledge and the transfer of expertise, which will contribute to creating job opportunities and raising the capabilities of national competencies, in order to support its future plans to be a leading national company in the aircraft leasing sector.

The company will contribute to strengthening the value chain of the Kingdom and facilitating its entry into the aircraft leasing market. The investment expertise of the Public Investment Fund, in addition to its strong financial budget, will contribute to empowering the company with the opportunities available in the sector.

The Fund explained that the launch of “AviLease” comes as an affirmation of its role in developing promising sectors, and contributing to achieving its goals to diversify the Saudi economy and increase the growth of non-oil GDP, in addition to enhancing options and financial sustainability of the aviation sector system, in line with the objectives of the Kingdom’s Vision 2030.

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