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PIF Launches ‘AviLease’ Aircraft Leasing Company

“AviLease” aims to be a leading institution across the aviation leasing value chain, maintaining an optimal portfolio of assets with its core focus on leasing, trading and asset management services.
“AviLease” aims to be a leading institution across the aviation leasing value chain, maintaining an optimal portfolio of assets with its core focus on leasing, trading and asset management services.
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PIF Launches ‘AviLease’ Aircraft Leasing Company

“AviLease” aims to be a leading institution across the aviation leasing value chain, maintaining an optimal portfolio of assets with its core focus on leasing, trading and asset management services.
“AviLease” aims to be a leading institution across the aviation leasing value chain, maintaining an optimal portfolio of assets with its core focus on leasing, trading and asset management services.

Saudi Arabia’s Public Investment Fund (PIF) announced on Thursday the launch of the Aircraft Leasing Company “AviLease”, which aims to be a leading institution across the aviation leasing value chain, maintaining an optimal portfolio of assets with its core focus on leasing, trading and asset management services.

“AviLease” will initially focus on scaling through purchase-and-lease-back transactions with airlines, portfolio acquisitions and direct orders from aircraft manufacturers. It will also look into expansions through corporate acquisitions.

The company’s fleet will consist of the new generation of narrow-body and wide-body aircraft from the world’s leading manufacturers.

“AviLease” will initially focus on scaling through purchase-and-lease-back transactions with airlines, portfolio acquisitions and direct orders from aircraft manufacturers. It will also look into expansions through corporate acquisitions. The company’s fleet will consist of the new generation of narrow-body and wide-body aircraft from the world’s leading manufacturers.

“AviLease” is managed by a top-tier team that will lead its growth, localize knowledge and expertise, and enable the development of the company’s desired infrastructure, with plans to become a national champion in the aircraft leasing market. Additionally, the company’s establishment will contribute to the reduction of value leakage for Saudi Arabia, while enhancing integration into the global aircraft financing market.

As a PIF fully owned company, PIF’s ample liquidity and strong balance sheet, combined with its depth of financing and investment-structuring expertise will help the company leverage the opportunity in the aircraft leasing market.

The launch of “AviLease” underlines PIF’s mandate to unlock the capabilities of promising sectors locally that can help drive the diversification of the economy and contribute to non-oil GDP growth. In addition, the company will be supporting a thriving aviation sector and driving financial sustainability within the aviation ecosystem in line with Vision 2030.

PIF is one of the largest and most impactful sovereign wealth funds in the world. As of the end of Q1 2022, its Assets under Management had reached approximately $620 billion, across a diversified portfolio spanning 13 strategic sectors in Saudi Arabia and globally.

Since 2017, the Fund has established 54 companies and created, directly and indirectly, more than half a million jobs as at the end of 2021.

PIF plays a leading role in advancing Saudi Arabia’s economic transformation and diversification, as well as contributing to shaping the future of the world economy.

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Egypt’s Tourism Minister: Stability, Trust Are Driving Sector Growth

Sherif Fathy, Egypt’s Minister of Tourism and Antiquities, at the Egyptian pavilion during the Arabian Travel Market in Dubai (Asharq Al-Awsat)
Sherif Fathy, Egypt’s Minister of Tourism and Antiquities, at the Egyptian pavilion during the Arabian Travel Market in Dubai (Asharq Al-Awsat)
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Egypt’s Tourism Minister: Stability, Trust Are Driving Sector Growth

Sherif Fathy, Egypt’s Minister of Tourism and Antiquities, at the Egyptian pavilion during the Arabian Travel Market in Dubai (Asharq Al-Awsat)
Sherif Fathy, Egypt’s Minister of Tourism and Antiquities, at the Egyptian pavilion during the Arabian Travel Market in Dubai (Asharq Al-Awsat)

Egypt’s Minister of Tourism and Antiquities, Sherif Fathy, has underscored that political stability and decades of built-up trust among international travelers are critical to the continued growth of Egypt’s tourism sector, even amid regional geopolitical challenges.

Speaking to Asharq Al-Awsat on the sidelines of the Arabian Travel Market in Dubai, Fathy said Egypt has consistently demonstrated resilience in the face of crises, recovering rapidly and reinforcing its status as a reliable destination.

“This isn’t coincidental,” he said. “It’s the outcome of long-term institutional planning led by the state, supported by strategic marketing and growing investment in infrastructure and hotel services.”

Fathy acknowledged intensifying competition among regional destinations but described it as both “healthy and necessary,” adding that it does not preclude deeper collaboration. He revealed recent talks with Bahrain’s Minister of Tourism that laid the groundwork for joint tourism programs, allowing Arab and foreign travelers to explore multiple destinations through a single package.

“We’re also collaborating with Saudi Arabia, Qatar, and Jordan,” he said. “We believe a coordinated Arab approach can offer travelers a richer, more integrated experience, with each country contributing its strengths.”

While such initiatives may not immediately deliver major numbers, he said they elevate the overall value of the visitor experience and expand market potential over time.

The minister pointed to Egypt’s diverse tourism portfolio as a unique competitive advantage. “We offer a distinctive product that blends Pharaonic heritage, Coptic and Islamic antiquities, beach and desert tourism, and luxury resort destinations like Sharm El-Sheikh, Hurghada, and the North Coast,” he said.

He also highlighted the ministry’s adoption of cutting-edge digital marketing tools, including AI-driven campaigns aimed at European markets that garnered over 100 million views within days. This, he said, boosted global awareness of Egypt as a safe, diverse destination.

Fathy emphasized the government’s focus on empowering the private sector, which he described as the engine behind tourism growth. “We don’t organize tourist itineraries - we create a competitive environment and raise service standards,” he noted.

He pointed to steady improvements in service quality across airports, hotels, and attractions, and rejected the idea that overcrowding poses a significant challenge, particularly when compared to other popular destinations.

Looking ahead, Fathy projected that Egypt could see an 8% increase in tourist arrivals in 2025, building on a strong first quarter that saw year-on-year growth of 25%. He said maintaining stability and global purchasing power would be key to sustaining momentum.