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Hassana Investment Company and AviLease Form Aircraft Leasing Partnership

Hassana Investment Company and AviLease Establish Aircraft Leasing Joint Venture
Riyadh, Saudi Arabia – Hassana Investment Company (Hassana) and AviLease, a global aircraft lessor and subsidiary of the Public Investment Fund (PIF), have announced the formation of a strategic joint venture (JV) focused on aircraft leasing. This partnership underscores the growing engagement of Saudi institutional investors in the aviation sector, supporting the expansion of domestic carrier fleets and aligning with the Kingdom’s National Aviation Strategy.
Structure and Strategic Objectives
Under the terms of the agreement, Hassana will hold a majority stake in the joint venture, while AviLease will contribute its technical expertise and operational capabilities as the aircraft service provider. The collaboration is designed to facilitate access to aviation financing for both local and international investors, thereby bolstering the development and performance of Saudi Arabia’s aviation infrastructure.
The JV’s inaugural transaction involves the acquisition of a portfolio comprising ten new technology, fuel-efficient aircraft from AviLease. These aircraft are currently leased to Saudi-based airlines, reflecting the nation’s commitment to enhancing efficiency and sustainability within its rapidly evolving aviation sector.
Hani Aljehani, Acting CEO and Chief Investment Officer of Hassana, emphasized the strategic nature of the partnership, stating, “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. This initiative is fully aligned with our mandate to pursue compelling investment opportunities that contribute to the achievement of our portfolio objectives.”
Edward O’Byrne, CEO of AviLease, highlighted the significance of the venture for the company’s growth, noting, “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. We look forward to further developing this partnership through future transactions and expanding our footprint in the global aircraft leasing market.”
Market Context and Challenges
The joint venture enters a highly competitive aircraft leasing market, where managing financial risks, ensuring regulatory compliance, and maintaining investor confidence will be critical. The sector is witnessing intensified competition, exemplified by major players such as SMBC Aviation Capital, which recently acquired Air Lease Corporation, potentially increasing pressure on the new JV. Additionally, airlines may seek to leverage any operational disruptions as the venture establishes itself.
Despite these challenges, the partnership between Hassana and AviLease represents a significant commitment to advancing Saudi Arabia’s aviation sector. By attracting broader investment into aviation financing, the joint venture is positioned to become a key player in the region’s evolving aviation landscape.

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