PIF launch of AviLease to boost aviation economies, services: Minister

04/07/2022 Argaam
Saudi Minister of Transport and Logistic Services, Saleh Al-Jasser

Saudi Minister of Transport and Logistic Services, Saleh Al-Jasser

The Public Investment Fund’s (PIF) launch of the Aircraft Leasing Co. (AviLease) will help develop the economies of the Kingdom’s aviation sector as well as its services, via the expansion of aircraft sale-and-leaseback transactions (SALTs) and knowledge localization, Saudi Minister of Transport and Logistic Services, Saleh Al-Jasser, said on his Twitter account.

 

The step underpinned PIF’s role in developing the promising sectors and fulfilling the goals of the National Transport and Logistics Strategy (NTLS).

 

The Saudi sovereign wealth fund launched, on June 30, the Aircraft Leasing firm to initially focus on SALTs with airlines as well as fleet management services and direct orders from aircraft manufacturers. In addition, the new entity will look into expansions through portfolio and corporate acquisitions, Argaam reported.

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