Riyadh: AviLease, the global aircraft lessor headquartered in Saudi Arabia, and Riyadh Air have signed their 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.

According to Saudi Press Agency, CEO of AviLease Edward O’Byrne said in a press release today: ‘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. We are also very clear about our role in helping build up the Saudi aviation ecosystem. As such, I am glad that we can witness the launch of such a key new carrier for the Kingdom.”

CFO at Riyadh Air Adam Boukadida said: ‘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, the release said, 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 of Q3 2025, AviLease’s portfolio comprises 192 owned and managed aircraft on lease to 48 airlines across 29 countries.