Saudi Arabia Avilease and Riyadh Air have signed their first aircraft lease. Riyadh Air says, “the agreement covers one Boeing 787-9 Dreamliner and positions AviLease as the inaugural lessor to partner with the Kingdom’s newest airline.” The “delivery is scheduled for Q4 2025”, marking a key milestone as it moves closer to its commercial launch.
According to Riyadh Air, “the lease underscores AviLease’s commitment to expanding its portfolio of latest-generation aircraft,” while supporting its own strategy to “introduce a technologically advanced, fuel-efficient fleet that contributes to the Kingdom’s ambition to develop a world-class aviation ecosystem.”
Edward O’Byrne, Chief Executive Officer, AviLease said: “This agreement is an important milestone for AviLease. We are continuing to build our investment-grade leasing platform to compete at the top of the industry, globally. Yet, we are also very clear on our role in helping build-up the Saudi aviation ecosystem.”
Adam Boukadida, Chief Financial Officer, Riyadh Air, said: “as we continue building a young, fuel-efficient fleet ahead of our commercial launch. The Boeing 787 is a highly capable aircraft that will play an important role in delivering a world-class travel experience for our future guests. This agreement marks an important step in establishing Riyadh Air as a leading global airline.”
AviLease says it is growing “its portfolio by focusing on high-quality, in-demand aircraft such as the Boeing 787 and by fostering strong partnerships with both local and international carriers.” As at Q3 2025, the lessor says it’s “portfolio comprises 192 owned and managed aircraft on lease to 48 airlines across 29 countries.”