AviLease 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 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 agreement supports the continued development of Saudi Arabia’s aviation sector, in line with the Saudi Aviation Strategy and the broader ambitions of Vision 2030.