AviLease, the global aircraft leasing company based in Saudi Arabia, has signed its first aircraft lease agreement with Riyadh Air the Kingdom’s new national carrier for one Boeing 787-9 Dreamliner.
The deal makes AviLease the first lessor to partner with Riyadh Air, marking a pivotal step in both companies’ growth and in advancing Saudi Arabia’s aviation ecosystem.
Scheduled for delivery in the fourth quarter of 2025, the state-of-the-art Boeing 787-9 Dreamliner is one of the most advanced and fuel-efficient widebody aircraft in operation.
The agreement underscores AviLease’s strategy to expand its portfolio with next-generation, sustainable aircraft while supporting Riyadh Air’s plan to launch a modern, eco-efficient fleet that aligns with the Kingdom’s aviation and sustainability ambitions.
Edward O’Byrne, CEO of AviLease, said: “This agreement is an important milestone for AviLease. We are building an investment-grade leasing platform to compete globally while playing a key role in developing the Saudi aviation ecosystem. Becoming Riyadh Air’s first leasing partner highlights the trust placed in AviLease and reinforces our commitment to enabling the Kingdom’s aviation ambitions.”
Riyadh Air’s Chief Financial Officer, Adam Boukadida, added: “We are pleased to complete our first aircraft lease with AviLease as we build a young, fuel-efficient fleet ahead of our commercial launch. The Boeing 787 is a highly capable aircraft that will deliver a world-class travel experience for our guests. This agreement marks an important step toward establishing Riyadh Air as a leading global airline.”
The partnership marks another milestone in Saudi Arabia’s broader aviation transformation strategy, aimed at positioning Riyadh as a global air hub and supporting Vision 2030’s goal of diversifying the national economy through aviation and tourism.