Hassana Investment Company, AviLease form aircraft leasing JV

Image: AviLease

Saudi Arabia’s Hassana Investment Company has partnered with AviLease, the aircraft lessor owned by the Public Investment Fund (PIF), to establish a dedicated aircraft leasing joint venture, the companies said on Monday.

Hassana will hold a majority stake in the venture, while AviLease will act as the aircraft service provider.

The JV will target both international and local investors, aiming to broaden access to aviation financing while supporting Saudi Arabia’s National Aviation Strategy.

JV to acquire aircraft from AviLease

As its first transaction, the joint venture will acquire 10 fuel-efficient aircraft from AviLease, currently leased to Saudi-based airlines.

“This strategic partnership underscores our commitment to investing in resilient assets that generate sustainable, long-term cash flows,” said Hani Aljehani, acting CEO and CIO of Hassana. “Through our collaboration with AviLease, we aim to strengthen our exposure to the aviation leasing sector while advancing the kingdom’s broader aviation aspirations.”

Fahad Al-Saif, chairman of AviLease, said the partnership highlighted the role of Saudi investment institutions in supporting the kingdom’s aviation ambitions and marked the private sector’s first step into this growth area.

He said the venture would also attract both local and international investments to Saudi financial markets.

Edward O’Byrne, CEO of AviLease, said: “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.”