The Public Investment Fund (PIF), the sovereign wealth fund of the kingdom of Saudi Arabia has launched AviLease, an aircraft leasing company that will provide leasing, trading and asset management services.
The fund in a statement said AviLease will initially focus on scaling through purchase-and-lease-back transactions with airlines, portfolio acquisitions and direct orders from aircraft manufacturers, Zawya reports. AviLease’s fleet will comprise a new generation of narrow-body and wide-body aircraft from the top global aviation giants, the statement also indicated. PIF has said its assets under management had reached approximately $620 billion. The wealth fund has made investments at home and abroad.
PIF launches aircraft leasing company
