JEDDAH: Saudi Arabia’s Public Investment Fund-backed AviLease has partnered with Hassana Investment Co. to establish a new aircraft leasing joint venture, underscoring growing public-private collaboration in advancing the Kingdom’s aviation sector.
Hassana, the investment manager of the General Organization for Social Insurance, will hold the majority stake in the venture. AviLease, which manages an aircraft portfolio worth over $7 billion, will act as the platform’s aircraft service provider, according to a press release.
The partnership comes as AviLease expands, having placed Boeing and Airbus orders in June, secured a $1.5 billion financing facility in April, and received investment-grade ratings.
The company is targeting a fleet of about 200 aircraft in Saudi Arabia’s growing aviation market.
The move aims to broaden access to aviation financing for local and international investors while supporting the Kingdom’s National Aviation Strategy. This supports the Kingdom’s updated target of drawing 150 million visitors a year by 2030, up from the original Vision 2030 goal of 100 million.
