Riyadh, Saudi Arabia – AviLease, the global aircraft lessor headquartered in Saudi Arabia and Riyadh Air the new national carrier for the Kingdom of 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 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.

AviLease continues to grow 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, AviLease’s portfolio comprises 192 owned and managed aircraft on lease to 48 airlines across 29 countries.

This agreement represents a significant step in shaping a modern aviation ecosystem for the Kingdom. By combining Riyadh Air’s global aspirations with AviLease’s leasing expertise, the partnership delivers long-term value for the industry and strengthens Saudi Arabia’s position in international aviation.

About AviLease:

AviLease is a global aircraft lessor headquartered in Saudi Arabia. Backed by the long-term capital of its visionary shareholder PIF, AviLease aims to become a top 10 global player in aircraft leasing. As dynamic capital allocators, AviLease owns and manages a portfolio of 192 predominantly new-technology, fuel-efficient aircraft on long-term lease to 48 airline customers. With a seasoned global team of 90 professionals across five offices, AviLease serves as a national champion in aircraft leasing and plays a pivotal role in Saudi Arabia’s Vision 2030 and National Aviation Strategy.

Follow AviLease on LinkedIn and for more information please visit: avilease.com

About Riyadh Air:

Riyadh Air, a PIF company, is a world-class airline. Launched in March 2023, the airline will be a digitally led, full-service airline that adopts the best global sustainability and safety practices across its advanced fleet of aircraft. Riyadh Air will equip its aircraft with the most advanced, state-of-the-art features with innovative, best-in-class cabin interiors and experiences, including next generation digital in-flight entertainment systems and connectivity solutions. Riyadh Air will connect guests to over 100 destinations around the world by 2030 through offering an exceptional guest experience with an authentic, warm Saudi hospitality at its heart.

For more information, please visit: www.riyadhair.com
Media inquiries: media@riyadhair.com