LONDON: Britain should avoid major, hasty reforms to make its financial sector more globally competitive following the industry’s separation from the European Union by Brexit, a parliamentary report said on Thursday.
The finance ministry has proposed scores of changes to rules governing capital markets, company listings and insurance to exploit independence from EU regulation and create an opportunity for Britain to innovate. Legislation is due this year.
The outlook for the “resilient” financial sector “seems relatively positive,” given that far fewer finance jobs than expected had moved to the EU, the House of Lords’ European Affairs Committee said in its report.
But committee chair Charles Hay said: “You should be a little bit wary because there’s a lot still to play out in this.”
Britain is proposing to give regulators a secondary objective of aiding financial sector competitiveness, but Hay said the committee was asking the government to explain exactly how this would work in practice.
A separate parliamentary report last week declined to back the objective, saying it risked weakening standards.
Bankers have called on the government to speed up reform, but Hay said it was critical to get the right sequencing to reach the “new place” for a sector that accounts for 10 percent of total British tax receipts.
“More important than the speed is the final answer because if you rush and do the wrong thing, then you will damage something very precious,” Hay said, outlining the report.
British relations with the EU are strained, with UK clearing house access to the bloc set to end in three years. A spat over Northern Ireland has put on ice a new British-EU financial regulatory cooperation forum.
While the government would be unwise to bet on “unlikely” future access to the EU for British finance, it should weigh up the benefits of diverging from rules it inherited from the bloc and thereby imposing new costs for companies, the report said.
Full Brexit yet to play out on British finance, lawmakers say
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Full Brexit yet to play out on British finance, lawmakers say
- “You should be a little bit wary because there’s a lot still to play out in this.”
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.
