Riyadh Air, Saudi Arabia’s new national airline, and Avilease, a Riyadh-based aircraft leasing company and a wholly-owned subsidiary of the Public Investment Fund (PIF), have sealed their inaugural aircraft lease agreement. This significant deal involves the lease of two new Boeing 787-9 Dreamliner aircraft.
The agreement marks a crucial step for Riyadh Air as it moves towards its operational launch. Deliveries of these aircraft are slated to commence early next year. Riyadh Air is expected to begin its operations in 2025, with an ambition to connect the Kingdom to over 100 destinations worldwide by 2030.
This collaboration highlights Avilease’s initial activity in supporting Saudi Arabia’s aviation ecosystem. Both entities are contributing to the broader objectives of Saudi Vision 2030, which includes diversifying the economy and positioning Riyadh as a global logistics and aviation hub. The partnership underscores strategic efforts to grow the nation’s aviation sector and facilitate its economic transformation.
Key Points
- Two new Boeing 787-9 Dreamliner aircraft
- Riyadh Air aims to connect to over 100 destinations worldwide by 2030
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