Saudi PIF launches aircraft leasing company

Logo of Public Investment Fund (PIF)

The Public Investment Fund (PIF) launched today, June 30, the Aircraft Leasing Co.  (AviLease), according to a statement from the fund.

The PIF added that the new company will initially focus on sale-and-leaseback transactions (SALTs) with airlines as well as fleet management services and direct orders from aircraft manufacturers.

In addition, the new entity will look into expansions through portfolio and 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.

As a wholly-owned subsidiary of the PIF, AviLease will benefit from the fund’s strong balance sheet, and the opportunities available in the aircraft leasing market.