Startup of the week: Last Link — Bubble

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Updated 05 November 2021
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Startup of the week: Last Link — Bubble

Bubble is a web proximity-based solution where users can have simultaneous conversations. Audio sharpens as you approach others and fades away as you move away; Just like real life. It is used for meetings, conferences, training, classrooms and more.

Last Link is a Technology and Production virtual event company that was established in June 2020. It came up with the idea for Bubble in May 2021.

Their biggest client in the kingdom today is Ithra in their yearly thematic innovation program, Creative Solutions. 

It was founded by Taqi Sleel, the firm's Chief Operating Officer, and his fellow co-founders Vish Kashi and Pavan Thanai.

The concept of Bubble is new and first of its kind in the Kingdom, although a few similar companies exist in Europe and North America. 

Bubble recreates real-life experience in training or workshops where participants walk into a room and move around freely to interact with one another all virtually. 

Multiple participants can simultaneously form different groups, all in one room. They can see each other but only hear those who are close to them. 

“Since the pandemic thrusted virtual solutions on us, the shift towards virtual events has been a struggle for many - not the least for the training and workshop organizers,” Sleel told Arab News.

He explained that for such events, engagement is an important factor, but has been difficult to achieve in a way that is similar to the pre-pandemic era.

“The future is already being shaped where many enterprises have already adopted virtual training and workshops, and are in the process of going fully virtual or hybrid. Not to mention, enterprises are already seeing the benefits of remote work, remote learning and virtual events.,” he said.

Since September 2020, Last Link has worked with more than 40 clients and produced more than 300 training workshops. 

“Our experience has taught us what is lacking and what needs to be improved. We know that engagement is an important factor in such settings, but virtually it is difficult for participants to engage properly,” he said. 

Bubble allows multiple presentations to be held at once. Other useful tools offered by Bubble are pinning different types of files, use of whiteboards, a megaphone to allow announcements, and chat. 

“As an example, we recently produced a training workshop for twenty participants and two instructors. Participants joined Bubble in a specific lobby area assigned by the instructors. At this stage, all users appear as bubbles with their video on. The instructors used the megaphone, which enabled them to speak to all participants irrespective of where in the lobby the bubbles (participants) were,” he explained.

“Upon informing the participants about the task, they formed small groups in each corner of the lobby and embarked on the task. The instructors could easily oversee the work, and move effortlessly among the groups to follow the discussions as well as provide support for the participants. When the participants finished the task they moved to the center of the lobby,” he added.

Bubble is currently in beta and has more than 25 enterprises using the product today and is officially launching in January 2022. 


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.