Saudi Firms Launch New Aircraft Leasing Joint Venture

Hassana Investment Company and AviLease have agreed to form a joint venture to lease aircraft, with Hassana taking the majority stake and AviLease serving as the aircraft service provider. The venture will begin with a portfolio of ten fuel-efficient, new-technology aircraft currently leased to carriers based in Saudi Arabia.

The JV aims to open up the aviation financing asset class to both local and international investors, helping align with the Kingdom’s National Aviation Strategy by supplying long-term capital, promoting sustainable fleet expansion and supporting operational excellence.

Hassana, which manages Saudi social insurance and pension funds, sees the deal as an avenue for resilient and sustainable income streams tied to strong fundamentals. AviLease, created by the Public Investment Fund in 2022, has rapidly grown its order books with Airbus and Boeing.

Hani Aljehani, Acting CEO and Chief Investment Officer at Hassana, emphasised that the venture supports Hassana’s mandate to pursue high-quality investments contributing to its portfolio objectives. Edward O’Byrne, CEO of AviLease, described the JV as foundational in building a scalable platform to bolster Saudi Arabia’s aviation ecosystem.

Fuel-efficiency plays a central role in the new fleet choice. Though the exact aircraft models have not been disclosed, the emphasis on new-technology suggests low carbon footprint, improved fuel burn and alignment with sustainability goals seen elsewhere in global aviation.

This partnership marks one of the more visible steps by Saudi institutional investors into aviation-leasing, leveraging both capital reserves and technical expertise. By supplying aircraft already operating in the domestic market, the JV seeks to reduce exposure risk and promote predictable cash flows.