UAE In-Focus — $92.5 million disbursed to social assistance; DP World receives global vaccine logistics award

The UAE government has disbursed $92.5 million to recipients of social assistance across the country, in honor of Ramadan. (AFP)
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Updated 24 April 2022
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UAE In-Focus — $92.5 million disbursed to social assistance; DP World receives global vaccine logistics award

DUBAI: The government has disbursed $92.5 million (340 million dirhams) to recipients of social assistance across the country, in honor of Ramadan, according to Minister of Community Development, Hessa bint Essa Buhumaid.

The Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Sheikh Mohamed bin Zayed Al Nahyan, has directed that 340 million dirhams be distributed to beneficiaries of social assistance across the country.

As part of the social assistance provided to all eligible categories in the nation, Sheikh Mohamed’s gesture is in addition to the monthly assistance provided to the recipients.

“The UAE leadership’s directives translate our endeavors to provide all forms of support and empowerment, to ensure a decent life for the beneficiaries and all segments of society,” Buhumaid said in a statement.


DP World receives global vaccine logistics award

The Vaccine Industry Excellence Awards 2022, held in Washington, DC, honored Dubai Properties World with the Best Logistics Technology & Cold Chain Delivery award, according to the Government of Dubai Media Office.

DP World received this award for its work over the last two years in addressing vaccine delivery challenges and supply chain bottlenecks.

Over the past 21 years, the World Vaccine Congress has evolved into the world’s leading vaccines congress, with a scientific advisory board to shape the agenda.

Group Chairman and CEO Sultan Ahmed Bin Sulayem said in a statement: “We must learn lessons from this pandemic to ensure equal and fair access to critical supplies, regardless of wealth or geography.”

The overcoming of these obstacles has relied heavily on technology and partnerships to pool expertise and resources. Global health, freedom of movement, and economic recovery are all hampered by the absence of a unified worldwide response.

UAE Eid Al Fitr week-long holiday 

The UAE public sector will have a week-long holiday to celebrate Eid Al Fitr, which marks the end of Ramadan.

The break was confirmed this weekend by Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah following a decision by the federal HR authority on Thursday.

There will be a nine-day break, including weekends, from Saturday, April 30, to Sunday, May 8, with work resuming on Monday, May 9. The other three emirates are expected to confirm the same dates.

In the private sector, employees will have a holiday from Saturday, April 30 to either Tuesday, May 3, or Wednesday, May 4, depending on moon sightings.
 


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.