ABL Aviation founder and CEO Ali Ben Lmadani on building a leasing giant 

Since its foundation a little over a decade ago, ABL Aviation has emerged as one of the most dynamic players in the global aircraft management and leasing scene. 

As of September 2025, this young, independent company has deployed over US$7 billion of capital in aircraft investments, a figure that includes 116 aircraft transactions of different types and sizes. The firm has also started to expand into the maintenance repair and operations (MRO) market and other asset classes. And its founder and sole owner, Ali Ben Lmadani, is just getting started. 

In an exclusive interview with AeroTime, Ben Lmadani confirmed plans for significant growth at ABL Aviation in the coming years, both in terms of aircraft under management and geographical footprint. 

Building ABL Aviation from scratch 

Although ABL Aviation was launched in 2014, the group can trace its roots back to a ground support equipment (GSE) trading business set up by Ben Lmadani almost two decades ago. The Moroccan-American entrepreneur explained how this first venture later evolved into the diversified aircraft management business that ABL Aviation is today. 

“GSE was my first business. That’s how I started,” Ben Lmadani said. “We used to buy equipment from the US and sell it to Europe and Africa, making a margin, and also leasing it. In 2014, we moved onto aircraft leasing with some Boeing 737s and then, in 2017, we did a 25-year joint venture in Japan, through which we continue to invest in aircraft.” 

Japan has played a central role in the rise of ABL Aviation. To this day, the Asian nation continues to be a particularly important market for the company, since it maintains a strategic partnership with a major Japanese financial services conglomerate. This relationship allows ABL Aviation to offer its global customers a range of specific and efficient financial instruments, such as Japanese Operating Leases (JOL) and Japanese Operating Leases with Call Option (JOLCO).  

However, there are other more unmaterial considerations which have led ABL Aviation to build its Japanese business up. 

“During COVID, we made sure that we didn’t lose any money for Japanese investors. We protected our investors. And that was very important for them because they saw us coming to Japan all the time,” explained Ben Lmadani. “They saw us, even during COVID, opening an office in Tokyo to have a presence locally, to be able to speak with them and they appreciate that. They really appreciate our local presence.” 

The pandemic wreaked havoc among airlines. But, as with its Japanese business, ABL Aviation saw it as an opportunity to strengthen bonds with its customers and stakeholders. 

“During COVID we made sure to manage the situation properly with the airlines,” Ben Lmadani said. “People trusted us as a company because of our speed of execution and of the fact that we always kept our word.” 

Despite the seriousness of the situation, ABL Aviation was able to see a silver lining. Because of the large number of grounded aircraft, the company was able to obtain a significant number of mid-life aircraft [aircraft that are not new and are approaching the middle of their theoretical operational life – ed. note] that had been sent to storage in Arizona. This helped ABL Aviation boost the firm’s assets under management (AUM) and develop its leasing business. 

Notwithstanding its close and long-running ties with Japan, ABL Aviation is also active in many other regions of the world, fully reflecting the global nature of the aircraft leasing industry.  

From its initial establishment in New York, Ben Lmadani’s company has grown a global presence with offices also in Dublin, Casablanca, Hong Kong, Tokyo and Dubai. 

ABL Aviation is particularly proud of having been the first aircraft lessor to base itself in Africa. ABL Corporation, the holding company of ABL Aviation, is continuing to build this presence with the construction of an office tower in Casablanca, Morocco, part of which is going to be used by the firm’s aircraft management division to further expand operations in the continent.  

“We are the first platform in Africa because of our local roots,” stated Ben Lmadani, before further elaborating on the challenges of doing business in the continent. 

“Africa is the last major market where aircraft leasing is not yet fully developed, but it will be,” said Ben Lmadani. “We’ve already placed A350s with Ethiopian Airlines, which is a great example of African aviation’s potential. Of course, investors worry about defaults in some countries, but that’s part of doing business on the continent.”  

“There is demand and there will be demand all over Africa,” he added “Of course, for investors, there’s a concern with payments in some African countries, a concern about the default on payments. That’s part of what we have to deal with. It’s a cost of doing business.”  

Ben Lmadani also outlined other markets in which it expects ABL Aviation to grow in the near future. 

“We’re developing our business in Africa, but also in Europe and in the midlife market. So, now the new strategy is to do more midlife and ground support equipment deals and to have more of what I’d like to call side businesses.”  

Ground support equipment, which was once at the root of the business, is still important for ABL Aviation. Ben Lmadani highlighted, for example, that the company closed the first-ever global secured facility for a ground support equipment operator, a $270 million financing deal with Swissport, a leading global airport services operators, in 2024 This deal, structured by ABL Aviation as a multi-draw senior secured facility, will enable the electrification of a significant share of Swissport’s ground support equipment fleet. 

Developing a unique value proposition in a mature industry 

So, what sets ABL Aviation apart from its competitors? And what factors have allowed the company to grow at speed in a market where it can often be difficult to find a vector for differentiation?  

“Our speed, compared to competitors, , our nimbleness, and our close ties with airlines make us stand out,” he said when asked about the factors that have allowed ABL Aviation to grow fast in a market in which it may often be difficult to find a vector for differentiation. 

ABL Aviation also positions itself not just as financing provider but as a full-service partner for its customers. 

“We don’t outsource the technical aspects of our business, all technical [work] is done in-house,” Ben Lmadani explained “It’s our own team, our CTO [Chief Technology Officer – ed. note], who do all the technical inspections, all the technical part is done in-house.”  

He also highlighted the fact that ABL Aviation is capable of providing a whole range of financial instruments. 

“Debt, equity, operating leases, financial leases…everything an airline needs. They know they can come to us as a one-stop shop,” he added “We are also developing midlife, end-of-life [solutions for aircraft], so they know they don’t need to go to multiple parties.  

“Even if they need financing for ground support equipment, for engines, for landing gear, they can come to us directly and we will find solutions for them. They like the fact they can come to us and get the full package.” 

So, what are the main trends currently driving the aircraft leasing market? And what are Ben Lmadani’s predictions for the near future? 

“Well, I can tell you that due to supply chain issues and the fact that Boeing and Airbus cannot deliver enough aircraft on time for all the airlines, there will be a big shortage of aircraft in the market,” Ben Lmadani said. “Therefore, I think there’s a huge opportunity in the midlife market. Aircraft between five and 20 years old are going to be in high demand and there’ll be a need to lease all those aircraft.  

“So, prices for midlife aircraft are going to go higher and higher, because of the big shortage of aircraft we’re going to see in at least the next five years. So, whoever is a lessor of those aircraft should be successful in the next five years.”  

Ben Lmadani also highlighted that this scramble for aircraft is a global phenomenon. 

“Demand is everywhere. In Asia, of course. The US is a big market. Some parts of Europe, since some European carriers need aircraft, especially on narrowbodies. Africa, with airlines such as Egyptair and Royal Air Maroc. There’s a big demand for aircraft.” 

Ben Lmadani went on to point out that ABL Aviation does not specialize in a specific type of aircraft but covers a broad range of types instead. 

“We have 777s [with Atlas Air], 787s, A350s, A320s and A321neos [with Pegasus Airlines], MAXs…the whole spectrum,” he said, adding that “the narrowbody market is always hot”.  

“The A320s, A321s….there’s such a big demand for A321s that we cannot find enough of them,” he continued “In fact, we just placed some of them with Pegasus. And then there are the [B737] MAXs, of course, the [B737]-800s and even the A220. For example, we have lots of A220s with Delta and Air France. There’s a big demand for the A220 because of its very useful range.” 

The road ahead for ABL Aviation 

While cautious about making long-term predictions, Ben Lmadani is clear about ABL Aviation’s near-term ambitions: 

“The idea is to get to 400 aircraft by 2030. Why the next five years? Because if you place an order today with Boeing or Airbus, you don’t get an aircraft before seven years. So at least we have a clear vision for the next five years,” he said. “We know what’s going on within the next seven years. That’s why we know that there’s a big shortage of aircraft. And that’s because people are paying their PDPs [Pre-Delivery Payments – ed. note] for the orders. So, we know these are real orders. Until 2031 and based on the order book of Boeing and Airbus, we know where this is going. But after seven years, I don’t know what’s going to happen. 

“That’s my view about aviation,” he added. “COVID happened and, if you remember, the hardest times lasted only like four or five months. There was an opportunity that lasted those four or five months. So, whoever acted fast during COVID was able to make money, but lots of people were thinking it would last two years, and it didn’t.”  

Although aviation is expected to continue to be the core business for ABL Corporation, Ben Lmadani also explained the company’s vision to extend its asset management know-how to other industries, such as maritime and real estate. 

“The broad vision is to be an asset manager where we have the platform in place and it is profitable, and we keep adding more businesses as assets,” he revealed “With exactly the same model, becoming more like a private equity shop and to keep investing in aviation and hard transportation assets, hard asset classes. That’s the goal we have.”  The post ABL Aviation founder and CEO Ali Ben Lmadani on building a leasing giant  appeared first on AeroTime.

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