In Finnish Lapland, tourists cross the Arctic Circle to fill Santa’s sack with cash

A view of the Santa Claus office in Rovaniemi, Finland where the festive period brings plenty of profitable cheer for local businesses. (Reuters)
Updated 17 December 2017
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In Finnish Lapland, tourists cross the Arctic Circle to fill Santa’s sack with cash

Rovaniemi, Finland: In the run-up to Christmas, tourists from around the world flock to the Santa Claus Village, an amusement park in Finnish Lapland, where temperatures can hit nearly -15 degrees Celsius (5 Fahrenheit).
They buy soft toys and souvenirs from pricey gift shops while a bearded Santa receives hundreds of admirers every day throughout December before embarking on his world tour from the valleys of Finland to the skyscrapers of New York and beyond to deliver gifts.
Holding their winter beanie hats in their hands, visitors wait patiently in line for a brief encounter with “Joulupukki” — the Finnish word for Santa Claus — and a photo opportunity in exchange for hard currency.
“We’ve seen other Santas but they weren’t the real one. But we’re told that is the real one,” said Mary Gleadall, an eight-year-old tourist from Southampton in the UK, visiting the amusement park with her parents, brother and sister.
According to Christmas lore, Santa lives in a secret place in the middle of the snowy pines of the North Pole. But the question is, where?
Since 2010, Rovaniemi, the capital of Finnish Lapland, has marketed itself as Santa’s “official home.”
Situated a few miles from the city, the Santa Claus Village is located in front of a huge gas station.
Tourists rush to cross the Arctic Circle, marked by a white line, to meet Santa Claus in his wooden home with a pointed roof.
But entering his private cottage is out of the question as Mother Claus is reportedly protective of their privacy.
In a large room, the white-bearded old man sits in an armchair next to a chest full of letters.
Each year, he receives more than 300,000 visitors, a deluge he embraces with humility.
“I’m very happy. I’m not exhausted but, of course, I get tired once in a while,” he said.
And how does Santa Claus regain his energy?
“I love to take nap every once and then. Fifteen minutes’ sleeping and then all is very good,” he said.
Shizuka Kawahara and Saki Itoi, Japanese tourists in their thirties, flew for more than 24 hours to hug Santa for a few seconds in a precious moment immortalized with a photograph taken by an elf.
The price for one shot starts at €30 ($35). Photographing with one’s own camera is forbidden as it would ruin the magic of the moment, says the staff of the house.
Four-year-old Harry Gleadall, Mary’s brother, approaches Santa without fear.
He quickly states his list of what he wants for Christmas: Transformers and some more transformers, before he skeptically shakes Santa’s hand.
“But what if it wasn’t the real Santa Claus?” Harry asks with concern.
Eager to set the record straight — and justify the long trip — his mother quickly assures him that the chubby red-clothed man is indeed the real deal.
After a tour around the shop which sells hand-made “Lapland” emblems and tons of souvenirs, the family is back in the village square, surrounded by wooden homes, Christmas carols piped out of nearby speakers.
In this winter wonderland, tourists have the opportunity to go on a reindeer sleigh ride.
A snow “safari” of 400 meters costs €14 per child and €18 per adult, an exotic experience for many foreigners who seek to discover the Arctic landscapes steeped in pink light.
The -13 degrees Celsius temperature does not discourage the plucky visitors bundled up in their ski suits.
“Everything that was told to me during childhood, it’s come true,” said Perpetua, a tourist from Dubai, describing the break from the year round desert climate as “heaven.”
“We expected magic and this is what we found,” added Max, an Italian tourist. “Everything seems to be magic — the lights, the place, everything here.”
But Miriana, a 24-year-old Italian on a university exchange program in southern Finland, was less convinced.
“The place is really nice. But I think nevertheless that it’s a bit commercial,” she said.
— AFP


PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025

Updated 27 February 2026
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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.