RDIF, European and Saudi Arabian partners create leading Russian aircraft leasing company

Press release, 14.10.2019

Riyadh, October 14, 2019 - 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”.

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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB1.5tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40bn. Further information can be found at www.rdif.ru

The Public Investment Fund (PIF) is one of the largest and most impactful sovereign wealth funds in the world, enabling the creation of new sectors and opportunities that will shape the future global economy, while driving the economic transformation of Saudi Arabia. PIF is building a world-class, diversified portfolio through investments in attractive, long-term opportunities across sectors and asset classes at both the domestic and international level. Working alongside global strategic partners and renowned investment managers, PIF acts as the Kingdom’s main investment arm to deliver a strategy focused on achieving attractive financial returns and long-term value for the Kingdom of Saudi Arabia, in line with Vision 2030. More information can be found at www.pif.gov.sa

KGAL GmbH & Co. KG is a leading independent investment and asset manager with an investment volume of €20.5 bn. Its investment focus is on long-term capital investments for institutional and private investors in the real estate, infrastructure and aircraft asset classes. The Group was founded over 50 years ago, operates globally and has its registered office in Grünwald near Munich, Germany.

For additional information contact:
Arseniy Palagin
Russian Direct Investment Fund
Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

Andrew Leach / Maria Shiryaevskaya
Hudson Sandler
Tel: +44 (0) 20 7796 4133