GACA bolsters global aviation hub ambitions at Changi Summit in Singapore

Abdulaziz Al-Duailej, president of the General Authority of Civil Aviation, lead the delegation. SPA
Short Url
Updated 21 February 2024
Follow

GACA bolsters global aviation hub ambitions at Changi Summit in Singapore

RIYADH: Saudi Arabia is poised to strengthen its position as a global hub linking Asia, Africa, and Europe as its civil aviation authority participates in the Changi Aviation Summit.

A high-level delegation, headed by Abdulaziz Al-Duailej, president of the General Authority of Civil Aviation, was present at the summit and at the Singapore Airshow on Feb. 19 and 20, according to the Saudi Press Agency.

The participation of GACA in these events underscores Saudi Arabia’s commitment to the objectives outlined in the Saudi Vision 2030, particularly in fostering a dynamic and attractive environment for the aviation sector and solidifying its position as a pivotal global hub connecting the three continents.

During the summit and airshow, Al-Duailej seized the opportunity to hold discussions with various stakeholders, including a significant meeting with Singapore’s Deputy Prime Minister, Heng Swee Keat. 

Their dialogue focused on reinforcing the strong bilateral relations between Saudi Arabia and Singapore, as well as exploring avenues for deeper collaboration and knowledge exchange in civil aviation.

Saudi Arabia’s presence in such events aligns with its National Aviation Strategy, a comprehensive initiative designed to propel the Kingdom into a prominent position on the global aviation stage, as reported by SPA.

Central to this strategy is the enhancement of international cooperation in air transport and the facilitation of a conducive framework for potential investors keen on collaborating with the burgeoning aviation sector.

Additionally, president Al-Duailej engaged with officials from regional organizations and key players within the civil aviation industry, further underlining Saudi Arabia’s commitment to fostering robust partnerships and driving innovation in air transport on a global scale.


PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025

Updated 27 February 2026
Follow

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.