WASHINGTON: Uber has grounded its fleet of self-driving cars pending an investigation into the crash of an Uber autonomous vehicle in Arizona, a spokesperson for the ride-hailing service said Sunday.
No one was seriously injured in the accident which occurred Friday in Tempe, Arizona while the vehicle — a Volvo SUV — was in self-driving mode, the company said.
“We are continuing to look into this incident and can confirm we had no backseat passengers in the vehicle,” the Uber spokesperson said.
The accident occurred when the other vehicle “failed to yield” while making a left turn, Tempe police spokeswoman Josie Montenegros said.
“The vehicles collided causing the autonomous vehicle to roll onto its side. There were no serious injuries,” she said.
Self-driving Uber vehicles always have a driver who can take over the controls at any time. Montenegro said it was uncertain whether or not the Uber driver was controlling the vehicle at the time of the collision.
The company grounded its self-driving vehicles in Arizona after the accident, and then followed up on Saturday pulling them off the road in Pittsburgh and San Francisco, the two other locations where it operates self-driving vehicles, the company said.
The car-hailing service has been dented by a series of bad news stories, including disclosures about a culture of sexism, cutthroat workplace tactics and covert use of law enforcement-evading software.
A number of executives have left the company in recent weeks, including President Jeff Jones, as troubles have mounted.
Advocates of self-driving cars say that they can cut down on deadly traffic accidents by eliminating human error.
But there have been accidents, including a fatality in Florida in May when a truck struck a speeding Tesla that was on autopilot.
An investigation found no safety-related defects with the autopilot system but concluded that the driver may have had time to avert the crash if he had been paying closer attention.
Uber grounds self-driving cars after accident
Uber grounds self-driving cars after accident
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.
