Riyadh – Mubasher: The Public Investment Fund (PIF) has launched its new aircraft leasing company under the name AviLease to initially focus on scaling through purchase-and-lease-back transactions with airlines.
The PIF-owned AviLease will also give priority to portfolio acquisitions and expansions as well as direct orders from aircraft manufacturers, according to a press release.
The fleet meanwhile will comprise the new generation of narrow- and wide-body aircraft from global leading manufacturers.
Being one of the strong sovereign wealth funds worldwide, PIF’s asset under management (AUM) portfolio of 13 local and global sectors amounted to $620 billion in the first quarter (Q1) of 2022.
It is worth noting that the Saudi sovereign wealth fund recently acquired 23.97% equity in the listed Capital Bank of Jordan.
