AviLease, the Saudi-based aircraft leasing company, has announced its first lease agreement with Riyadh Air, the Kingdom's newest national carrier. The deal involves a Boeing 787-9 Dreamliner, scheduled for delivery in the last quarter of 2025, and marks a significant milestone in AviLease’s expansion efforts.
The Boeing 787-9 is renowned for its fuel efficiency and advanced technology, aligning with Riyadh Air’s goal to establish a modern, fuel-efficient fleet ahead of its launch. This transaction supports Saudi Arabia’s broader efforts under Vision 2030 to develop its aviation sector and attract major international airlines and manufacturers.
Significance for Saudi Aviation Sector
"This agreement underscores AviLease’s commitment to supporting the Kingdom’s aviation ambitions," said Edward O’Byrne, CEO of AviLease. "We aim to build a competitive leasing platform that contributes to the national economic diversification and global connectivity." Riyadh Air’s CFO, Adam Boukadida, remarked: "Our partnership with AviLease is an important step in building a fleet capable of providing world-class service. The Boeing 787 will be a cornerstone for our future fleet, enabling us to offer exceptional travel experiences." The lease agreement is a clear expression of the Kingdom’s aspirations to boost tourism, business, and connectivity through strategic investments in modern aircraft and infrastructure.
