DUBAI: The CEO and co-founder of the web-based taxi company Careem on Thursday pledged to hire more women drivers and have as much as 20,000 female captains by 2020 to address rising demand in the Middle East.
“We realize that up until today we have focused our efforts predominantly on attracting and catering to male captains. It’s time for us and the entire industry to wake up,” Mudassir Sheikha, CEO and co-founder of Careem, said in a statement to coincide with the celebration of International Women’s Day.
“Not only is there a moral obligation to do so, but there’s also a huge opportunity to grow our business around women and give them the economic opportunity to excel. Women are often the primary breadwinners and looking for alternative, flexible ways to support their families.”
Careem currently has female captains – as the company calls its drivers – in UAE, Egypt, Pakistan, Jordan, Morocco, Lebanon and Palestine in its 13-country network. Pakistan has the most number of women captains, who drive bikes, rickshaws as well as cars.
In Saudi Arabia, Careem registered more than 2,000 women in Riyadh, Jeddah and Dammam after the government announced in September that women would now be allowed to drive.
“With a female-only call center already operational in Jeddah, Careem will look to launch a female-only training center in the Kingdom later this year with specialized training materials and women coaches,” the company said.
Careem will also address the needs of mothers wishing to register on their platform, looking into incentive structures and comfortable, flexible environments for them to work in, it added.
The company recognizes the economic impact of women, wanting to enable that growth, Careem said.
Web-based taxi firm Careem pledges to hire more women drivers
Web-based taxi firm Careem pledges to hire more women drivers
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.
