LONDON: British MPs have voted in favor of allowing fracking under national parks, despite earlier promises of a ban.
MPs voted by 298 to 261 in favor of extending legislation to permit fracking 1,200 meters below national parks, areas of outstanding natural beauty and world heritage sites with drilling taking place from outside the protected areas.
Environmental campaigners and opposition lawmakers accused the government of using “sneak” tactics to relax the legislation.
The issue was discussed and approved in committee only on Tuesday and the vote was held under a procedure normally used to speed minor parliamentary business.
Opposition MPs criticized the rush to back fracking, a way of extracting gas by pumping water, chemicals and sand underground that opponents say could pollute water supplies, scar the countryside, and trigger earthquakes.
Labour’s chief energy spokeswoman Lisa Nandy accused ministers of using a “parliamentary back door” to try to approve the “weak regulations” without debate.
Liberal Democrat leader Tim Farron said the government was trying to “sneak” through a decision, labelling such a move “outrageous.”
The change would allow shale gas companies to drill sideways under national parks. Before the general election, the government had made a commitment for an “outright ban” on drilling in national parks.
“It’s not even a year since the government promised to ban fracking in national parks,” Hannah Martin, energy campaigner at Greenpeace, said in a statement.
“Now it’s trying to pull a fast one through an arcane parliamentary process by hawking out the land beneath our most beautiful landscapes to let fracking companies drill sideways deep beneath them,” she said.
Friends of the Earth said the government was “pushing through” the changes without a full debate, adding that the rules could endanger drinking water aquifers.
“People won’t be fooled by the government’s blatant attempt to get around their promises on a technicality — fracking under a national park does not equate to an ‘outright ban’,” said Rose Dickinson, energy campaigner for Friends of the Earth.
Prime Minister David Cameron’s government has pledged to go “all-out for shale,” saying it would increase energy security, keep prices down and create jobs.
But there is widespread opposition and there is no commercial fracking under way in Britain yet.
The government’s plans were dealt a blow earlier this year when local authorities rejected plans for an exploratory fracking site by energy firm Cuadrilla in northwest England following protests.
Britain approves national park fracking plans
Britain approves national park fracking plans
PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025
RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.
According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.
Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries.
The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.
AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.
AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.
Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”
He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”
Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.
AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance.
Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.
