AviLease, the global aircraft lessor headquartered in Saudi Arabia and Riyadh Air the new national carrier for Saudi Arabia has signed its first aircraft lease.
The agreement covers one Boeing 787-9
Dreamliner and positions AviLease as the inaugural lessor to partner with the
Kingdom’s newest airline.
Delivery is scheduled in Q4 2025, marking a
key milestone as Riyadh Air moves closer to its commercial launch.
The Boeing 787-9 is
among the most advanced and fuel-efficient widebody aircraft in service.
The lease Underscores
AviLease’s commitment to expanding its portfolio of latest-generation aircraft,
while supporting Riyadh Air’s 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, 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 aworld-class travel experience for our future guests. This agreement marks an important step in establishing Riyadh Air as a leading global airline." -TradeArabia News Service