Hassana Investment and AviLease Sign Strategic Aircraft Leasing Agreement

Malaz Madani

Last updated 16-09-2025

3 min

Saudi Arabia's aviation sector sees growth with a Hassana and AviLease joint venture.

The venture plans to focus on aircraft leasing, aligning with the National Aviation Strategy.

Hassana holds majority shares; AviLease manages operations, drawing local and global investors.

Initially, the joint venture will acquire ten fuel-efficient aircraft from AviLease for sustainability.

The project aims for strong investor returns and global expansion of Saudi airlines.

Saudi Arabia’s aviation sector is getting a serious boost as Hassana Investment Company has teamed up with AviLease, the aircraft leasing firm backed by the Public Investment Fund (PIF), to set up a joint venture focused entirely on aircraft leasing. The move, unveiled in Riyadh, is part of a wider push to grow the Kingdom’s aviation ecosystem and sits neatly under the umbrella of the National Aviation Strategy, which aims to make the country a global hub for air travel.

The structure of the deal is straightforward: Hassana will be the majority shareholder, while AviLease takes the wheel on the servicing side—handling the technical expertise, management, and day-to-day operational know-how. What makes this interesting is that the joint venture isn’t just geared toward Saudi capital. It’s been designed as a platform for both local and international investors who fancy exposure to aviation as an asset class. And believe it or not, that’s not something you come across in the region every day.

As a starting point, the JV will purchase a portfolio of ten aircraft directly from AviLease. These planes are already flying with local airlines and, importantly, they’re the newer, fuel-efficient models—a nod to sustainability concerns that are increasingly becoming part of the conversation worldwide. It’s spot on for the Kingdom’s wider journey, where efficiency and green practices are meant to shape the future infrastructure.

Hassana’s acting CEO and CIO, Hani Aljehani, described the venture as a way to “invest in resilient assets that generate long-term cash flows,” stressing how it lines up with the fund’s mandate to balance opportunity and growth. On the flip side, AviLease’s CEO Edward O’Byrne called it a “foundational step” for scaling Saudi Arabia’s aviation footprint, while also opening doors for more international activity in what is, admittedly, a very competitive global sector.

Now, while the big-picture strategy is impressive, I reckon execution will be the real test. Managing a fleet across multiple carriers is no walk in the park, and leasing can be a bit of a faff when global demand dips or financing costs rise. Still, with PIF muscle behind AviLease and institutional firepower from Hassana, the joint venture feels like more than just a symbolic gesture—it’s a concrete play to turn Saudi airlines into heavyweight operators.

When I spoke with startup founders around the MENA region for Arageek stories in the past, I often heard how tricky it was to balance ambition with sustainability. This deal reminds me of those conversations: go bold, but not at the expense of long-term resilience. The aviation industry, if anything, is a masterclass in that balancing act.

If all goes according to plan, this new platform won’t just bring steady cash flow for investors—it could well pave the runway for Saudi carriers to expand globally with fewer hurdles. And for an industry that lives and dies on utilisation rates, that’s invaluable. Hassana and AviLease might just have cracked a model that others will be keeping a very close eye on.

Whether it flies high or hits turbulence, the JV is definately one to watch.

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