TOKYO: Toyota Motor Corp. says it has issued a recall for 2.43 million hybrid vehicles in Japan and elsewhere for potential problems with stalling.
The company said Friday that in rare cases the vehicles might fail to enter a “failsafe” driving mode, lose power and stall. Power steering and braking would still work but a stall at a fast speed could increase risks of a crash.
The recall applies to some Toyota Prius and Auris hybrids made from October 2008-November 2014. The vehicles were involved in an earlier recall that did not fix the previously unanticipated problem that is being addressed now, the company said in a statement.
Toyota said it would update the software of the vehicles to remedy the problem for free.
The recall applies to 1.25 million vehicles in Japan, 807,000 in the US, 290,000 in Europe and 3,000 in China with the rest across the globe.
Toyota said it had received three reports in Japan related to the problem by the end of September and reported them to the transport ministry. They did not involve accidents.
It would not comment on incidents outside Japan, saying it was difficult to be certain about actual cases.
The recall is meant to address situations in which the failure of a specific component, coupled with hard acceleration, could cause the vehicle to lose power rather than enter a failsafe driving mode.
Toyota recalls 2.4 million hybrids due to stalling problems
Toyota recalls 2.4 million hybrids due to stalling problems
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.
