Saudi Arabia launches aircraft leasing company

SAUDI ARABIA FLAG

Saudi Arabia announced the founding of an aircraft leasing company named AviLease, as a way to diversify the kingdom’s oil-reliant economy.

Riyadh, July 1, 2022:  Saudi Arabia announced the founding of an aircraft leasing company named AviLease, as a way to diversify the kingdom’s oil-reliant economy.

Sponsored by the Public Investment Fund (PIF), a sovereign wealth fund of Saudi Arabia, AviLease will focus on growing through purchase-and-leaseback deals with airlines, portfolio acquisitions, and direct orders from aircraft manufacturers, as well as considering corporate acquisitions as a means of expansion, Xinhua news agency quoted the state media as saying.

The launch of AviLease underlines PIF’s goal to tap the potential of promising local industries in order to advance economic diversification and contribute to non-oil GDP growth.

The PIF has established 54 companies in various sectors since 2017.

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

At www.maeeshat.in we intend to introduce and promote the businesses in the Minorities especially Muslim world who distinguish themselves with respect to Halaal and Haraam. From its very beginning this journal/website has convinced Muslim industrialists and businessmen to strengthen the Indian economy and make their relationships more flourishing with other corporate.


CONTACT US

CALL US ANYTIME


Disclaimer

Maeeshat Media Pvt Ltd and https://maeeshat.in is not responsible for views and claims expressed by contributors and for reports sourced by other media networks and news agencies. They do not necessarily represent or reflect the editorial policy of the publication.


Newsletter


    Categories