Hassana Investment Company and the PIF-owned global aircraft lessor AviLease have announced a strategic partnership to establish a dedicated aircraft leasing Joint Venture (JV). This initiative signals a growing trend of Saudi institutional investors playing a pivotal role in financing the aviation sector’s expansion, directly aligning with the objectives of Saudi Arabia’s National Aviation Strategy.
A Strategic Alliance for Aviation Growth
Under the terms of the agreement, Hassana Investment Company will hold a majority ownership stake in the new Joint Venture. AviLease will act as the aircraft service provider for the platform, leveraging its technical expertise and operational capabilities to manage the assets and drive the JV’s growth. The partnership is designed to create a new avenue for both local and international investors to gain access to the aviation financing asset class.
Inaugural Portfolio Acquisition
As its debut transaction, the JV will acquire a portfolio of 10 aircraft from AviLease. This initial portfolio consists of new technology, fuel-efficient aircraft that are currently on lease to Saudi-based airlines. The focus on modern, efficient aircraft underscores the nation’s commitment to promoting sustainability within its rapidly expanding aviation infrastructure.
Leadership Commentary
Leaders from both organizations highlighted the strategic importance of the partnership. Hani Aljehani, Acting CEO and Chief Investment Officer at Hassana, commented, “This strategic partnership underscores our commitment to investing in resilient assets that generate sustainable, long-term cash flows supported by strong fundamentals. Through our collaboration with AviLease, we aim to strengthen our exposure to the aviation leasing sector while advancing the Kingdom’s broader aviation aspirations.”
Edward O’Byrne, CEO of AviLease, added, “Partnering with Hassana reinforces our role as a PIF company delivering long-term value through best-in-class asset management and origination. The proposed joint venture is a foundational step in building a scalable platform that supports the growth of Saudi Arabia’s aviation ecosystem.”
About Hassana Investment Company
Hassana Investment Company is the investment arm of the General Organization for Social Insurance (GOSI) in Saudi Arabia. It is responsible for managing one of the largest pension funds in the world, with a mandate to pursue compelling investment opportunities that contribute to the achievement of its long-term portfolio objectives.
About AviLease
Founded in 2022 and wholly owned by the Public Investment Fund (PIF), AviLease is a global aircraft leasing company based in Riyadh, Saudi Arabia. It is focused on building a high-quality portfolio of the latest-generation, fuel-efficient aircraft to lease to airlines worldwide, contributing to the development of the Kingdom’s aviation ecosystem.
Source: Zawya
