AviLease, the global aircraft lessor headquartered in Saudi Arabia, has finalised its first aircraft lease agreement with Riyadh Air, the Kingdom’s new national carrier. The milestone deal covers one Boeing 787-9 Dreamliner, making AviLease the inaugural lessor to partner with the newly established airline. Delivery of the aircraft is expected in the fourth quarter of 2025, marking a major step forward in Riyadh Air’s preparations for its upcoming commercial launch.
The Boeing 787-9 is widely recognised as one of the most advanced and fuel-efficient widebody aircraft in operation today. The agreement reinforces AviLease’s ongoing commitment to expanding its portfolio of next-generation aircraft while supporting Riyadh Air’s mission to build a modern, sustainable fleet that underpins Saudi Arabia’s ambitions to develop a world-class aviation ecosystem.
Edward O’Byrne, CEO of AviLease, added: “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. As such, I am really glad that we can witness the launch of such a key new carrier for the Kingdom. Becoming Riyadh Air’s first leasing partner highlights the trust placed in AviLease and reinforces our position as a strategic enabler of the Kingdom’s aviation ambitions.”
Adam Boukadida, CFO at Riyadh Air, said: “We are pleased to complete our first aircraft lease with AviLease 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.”
The collaboration supports the continued advancement of Saudi Arabia’s aviation industry, aligning with the Saudi Aviation Strategy and the broader objectives of Vision 2030.
AviLease continues to strengthen its global footprint by focusing on modern, in-demand aircraft such as the Boeing 787 and by cultivating long-term partnerships with airlines both within the Kingdom and internationally. As of the third quarter of 2025, AviLease’s portfolio includes 192 owned and managed aircraft leased to 48 airlines across 29 countries.
This partnership marks a pivotal step in shaping Saudi Arabia’s next-generation aviation landscape. By uniting Riyadh Air’s international ambitions with AviLease’s leasing expertise, the agreement delivers strategic value to the Kingdom’s growing aviation sector and reinforces its standing as a key player in global air transport.