AviLease Partners On New Saudi Leasing JV

Saudi Arabia is accelerating its development of the aircraft leasing sector as Hassana Investment Company and AviLease, the fast-growing lessor backed by the kingdom’s Public Investment Fund (PIF), announced a new aircraft leasing joint venture (JV).

Hassana, which manages Saudi Arabia’s social security and pension fund, will hold the majority stake in the venture. AviLease will act as the platform’s aircraft service provider.

The announcement comes as AviLease accelerates its expansion, having placed a Boeing order in May and an Airbus order in June after securing a $1.5 billion financing facility earlier in the year.

The lessor is targeting a fleet of approximately 200 aircraft to meet growing demand in Saudi Arabia’s aviation market.
As a debut transaction under the partnership, the JV will acquire 10 aircraft from AviLease, which are currently leased to Saudi-based airlines.

“These partnerships and strategic cooperation represent a financial platform that attracts quality local and international investments, enhancing the position and depth of the Saudi financial market regionally and globally,” AviLease Chairman Al-Saif said Sept. 15 on the announcement of the Hassana partnership.

Hani Aljehani, acting CEO and chief investment officer of Hassana, said he expected the investment to “generate sustainable, long-term cash flows.”

Edward O’Byrne, CEO of AviLease, added that the JV “is a foundational step in building a scalable platform that supports the growth of Saudi Arabia’s aviation ecosystem.”