Saudi Arabian lessor AviLease has agreed to establish a new joint leasing venture under a partnership with Hassana Investment Company.
Hassana will be the majority owner of the venture, which will take an initial fleet of 10 aircraft from AviLease – all of which are leased to Saudi-based carriers.
“The partnership is designed to provide access to the aviation financing asset class for both international and local investors,” says Hassana, which is the investment manager of the Saudi social insurance and pension organisation.
AviLease, which was set up by the Saudi sovereign wealth fund three years ago, has undergone a period of rapid expansion including placing direct aircraft orders with Airbus and Boeing.
The joint venture’s initial portfolio will comprise fuel-efficient, new-technology aircraft, says Hassana, although neither firm has identified the types involved.
“This strategic partnership underscores our commitment to investing in resilient assets that generate sustainable, long-term cash flows supported by strong fundamentals,” says acting chief Hani Aljehani.
Aljehani adds that the venture is “fully aligned” with Hassana’s mandate to pursue “compelling investment opportunities” that contribute its portfolio objectives.
AviLease chief Edward O’Byrne says the venture is a “foundational step in building a scalable platform”, which will support the growth of the kingdom’s aviation system.
“We look forward to further developing this partnership through future transactions and expanding our footprint in the global aircraft leasing market,” he adds.
