Riyadh Air has secured its first Boeing 787-9 aircraft through a lease agreement with Avilease. This marks a significant step for the new Saudi Arabian airline as it prepares for its launch.
The agreement involves the lease of three Boeing 787-9 Dreamliners. These aircraft are central to Riyadh Air’s strategy to build its fleet and commence operations. The airline has ambitious plans for expansion, aiming to connect Saudi Arabia to a broad network of international destinations.
Riyadh Air, which is backed by Saudi Arabia’s Public Investment Fund (PIF), is a new entrant in the global aviation market. Its establishment is part of Saudi Arabia’s Vision 2030 initiative, which seeks to diversify the country’s economy and develop its tourism sector. The airline aims to offer a premium travel experience, and the selection of the Boeing 787-9 as part of its initial fleet underscores this commitment. The 787-9 is known for its advanced technology, fuel efficiency, and passenger comfort.
This lease deal with Avilease is a crucial component in Riyadh Air’s fleet acquisition strategy. The airline has a substantial order book with Boeing, including 787-9s and 737 MAX aircraft. Securing leases for its initial aircraft allows for a more agile approach to fleet growth and operational readiness.
The collaboration with Avilease, a lessor based in Abu Dhabi, highlights the growing partnerships within the aviation finance sector in the Middle East. As Riyadh Air builds its operational capacity, further fleet acquisition and leasing agreements are expected. The airline is targeting a launch of commercial flights in 2025.
Key Points
* Lease agreement for three Boeing 787-9 Dreamliners with Avilease.
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