Saudi Sovereign Wealth Fund PIF Creates Aircraft Leasing Company AviLease
Posted on 06/30/2022
Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, launched AviLease, an aircraft leasing company. AviLease will initially focus on scaling through purchase-and-lease-back transactions with airlines, portfolio acquisitions, and direct orders from aircraft manufacturers and then it will look into expansions through corporate acquisitions.
According to PIF, AviLease’s fleet will comprise new generation of narrow-body and wide-body aircraft from the top global aviation giants. 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, it stated.
