The Public Investment Fund of Saudi Arabia has announced the establishment of Evil Lease Company to modernize the aviation sector in the kingdom. The company will provide airfare.
According to newspaper 24, the operational program of the said company will be quite extensive. The company will also purchase and lease the aircraft and make direct deals with the aircraft manufacturers.
The company will also run investment schemes.
It will have a fleet of modern state-of-the-art aircraft. The planes will be procured from the world’s largest aircraft manufacturers.
The company will be managed by selected aviation experts. The company will also implement schemes to train Saudi aerospace experts.
Saudi youth will not only be provided with the latest information on aviation, but will also be given experiences in the world of aviation.
The company will provide a foothold in the aircraft rental market. The investment experience of the Public Investment Fund will help the company to stand on its own two feet.