RDIF, European and Saudi Arabian partners create leading Russian aircraft leasing company
A consortium of investors, including the Russian Direct Investment Fund (RDIF, Russia's sovereign wealth fund), Public Investment Fund (PIF, Saudi Arabia sovereign wealth fund) and KGAL GmbH & Co. KG, a German investment group, today announces the creation of ROAL - a company focused on becoming a leader in aircraft leasing in Russia.
The announcement was made today in presence of Russian President Vladimir Putin and King Salman bin Abdulaziz Al Saud of Saudi Arabia.
The total investment amount is expected to exceed $600 mn. The purpose of the project is to invest in modern civilian aircrafts to be provided to Russian carriers under long term lease agreements. Russian civil airlines will be able to further increase the number of destinations and flights offered to the passengers and will operate modern civil aircraft.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"We expect the company to take a leading position in the Russian airline market. It will enable Russian carriers to expand their fleets on favorable terms, and, accordingly, increase the number of routes they offer, which will create additional benefits for passengers".