Riyadh Air Signs Boeing 787-9 Lease Agreement with AVI LEASE
Saudi Arabian airline Riyadh Air has finalized a lease agreement with AVI LEASE for two Boeing 787-9 Dreamliner aircraft. This deal marks a significant step for the new carrier as it prepares for its upcoming launch.
The agreement, announced on June 24, 2024, will see Riyadh Air take possession of the two wide-body jets. The Boeing 787-9 is a popular choice for airlines due to its fuel efficiency and passenger comfort.
Riyadh Air, which is wholly owned by Saudi Arabia’s Public Investment Fund (PIF), aims to connect Riyadh to over 100 destinations by 2030. The airline is a key component of Saudi Arabia’s Vision 2030 initiative, which seeks to diversify the kingdom’s economy and boost tourism.
This latest lease agreement with AVI LEASE, a subsidiary of Asteria Holdings, underscores Riyadh Air’s strategy to build its fleet through a combination of direct orders and leasing agreements. The airline has previously announced a significant order for Boeing aircraft, including 787 Dreamliners and 737 MAX variants.
The integration of these leased Boeing 787-9 aircraft will be crucial for Riyadh Air as it works towards establishing its operational network and preparing for its inaugural flights. The airline has indicated its intention to offer a premium travel experience.
Key Points
* Riyadh Air has signed a lease agreement for two Boeing 787-9 Dreamliner aircraft.
* The agreement was finalized on June 24, 2024.
* The lessor is AVI LEASE, a subsidiary of Asteria Holdings.
* Riyadh Air is wholly owned by Saudi Arabia’s Public Investment Fund (PIF).
* The airline aims to connect Riyadh to over 100 destinations by 2030.
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