Hassana and AviLease Join Forces in Saudi Aircraft-Leasing Push

Saudi entities Hassana Investment Company and AviLease have formed a joint venture to offer aircraft-leasing opportunities, signalling a major step in the Kingdom’s drive to build up its aviation financing infrastructure under its National Aviation Strategy. Hassana will own a majority of the new venture; AviLease—backed by the Public Investment Fund—will supply aircraft servicing.

The joint venture’s launch includes a deal to acquire a fleet of ten fuel-efficient, new-technology aircraft from AviLease, all currently leased to carriers based in Saudi Arabia. The portfolio reflects a shift towards greener, more sustainable aviation assets.

Hassana, which manages funds for the General Organization for Social Insurance, sees this as a chance to deepen exposure to resilient asset classes that generate long-term cash flows. Hani Al-Jeha­ni, Acting CEO and CIO of Hassana, emphasised the partnership aligns with its mandate to pursue investments that offer sustainable returns while supporting national aviation goals.

AviLease, established in 2022 as part of the sovereign wealth fund’s expanding portfolio, is expanding rapidly. The company has placed large orders for new Boeing and Airbus aircraft and completed a sizeable financing facility earlier this year. It manages a global portfolio worth several billion dollars. Edward O’Byrne, CEO of AviLease, described the joint venture as foundational to scaling up Saudi Arabia’s aviation ecosystem and creating a platform attractive to both domestic and international investors.

Fahad Al-Saif, Chairman of AviLease, noted that the partnership marks one of the first private-sector-led steps into the aviation financing domain within Saudi Arabia, reinforcing the role of investment institutions in strengthening the sector.

The move supports Saudi Arabia’s ambition to draw 150 million visitors annually by 2030, up from earlier targets, and to enhance the economic multiplier effects of tourism, trade, and transport infrastructure. Aviation financing is seen as a key enabler in achieving these goals, since airlines often face high capital costs.