Aircraft Orders & Deliveries
Gulf Air Expands Fleet with Up to 15 Boeing 787 Dreamliners
Gulf Air finalizes agreement to acquire up to 15 Boeing 787 Dreamliners, modernizing its fleet and expanding international routes.
In a significant move for Middle Eastern aviation, Gulf Air, the national carrier for the Kingdom of Bahrain, has finalized a substantial agreement with The Boeing Company. The deal, announced at the bustling Dubai Airshow on November 18, 2025, involves the acquisition of up to 15 new Boeing 787 Dreamliner aircraft. This strategic purchase is not just about adding new planes; it represents a calculated step in Gulf Air’s ambitious plan to modernize its fleet and aggressively expand its international route network, signaling a new era of growth for the airline.
The agreement underscores a clear vision for the future. By committing to one of the most technologically advanced and fuel-efficient aircraft on the market, Gulf Air is positioning itself to enhance operational efficiency, improve passenger experience, and compete more effectively on the global stage. This move builds upon the airline’s existing relationship with Boeing and its positive experience with the 10 Dreamliners already in its fleet. The expansion is set to support the carrier’s foray into new long-haul markets, particularly in North America, Europe, and Asia-Pacific, marking a pivotal moment in its strategic development.
The announcement at the Dubai Airshow serves as the culmination of discussions that gained momentum earlier in the year. In July 2025, a preliminary agreement was reached in Washington, D.C., outlining a commitment for 12 firm orders of the 787 Dreamliner with options for an additional six. The presence of high-level officials at that meeting, including Bahrain’s Finance Minister Shaikh Salman bin Khalifa Al Khalifa and U.S. Commerce Secretary Howard Lutnick, highlighted the economic and diplomatic weight of the partnership. The November finalization appears to firm up the initial 12 orders while exercising options for three more aircraft, bringing the total to 15.
This acquisition is a cornerstone of Gulf Air’s broader fleet modernization strategy. The Boeing 787 Dreamliner is renowned for its long-range capabilities, superior fuel efficiency, and passenger-centric design, which includes larger windows, better cabin air pressure, and higher humidity levels for a more comfortable journey. By standardizing and upgrading its long-haul fleet with these modern jets, Gulf Air aims to reduce its operational costs and environmental footprint while simultaneously elevating the quality of its service. This aligns with a growing industry trend toward sustainability and enhanced passenger comfort.
The integration of these new aircraft will be phased, allowing the airline to strategically deploy them as it launches new routes and increases frequencies on existing ones. The expansion is a direct response to the competitive pressures within the Gulf region’s aviation market, enabling Gulf Air to offer more direct connections and solidify Bahrain’s position as a key aviation hub. The new Dreamliners will be instrumental in realizing this long-term vision.
“This agreement marks a transformative step in Gulf Air’s strategic growth journey as we expand our global footprint and modernize our fleet with one of the industry’s most advanced and efficient aircraft.” – Khalid Taqi, Chairman of Gulf Air Group (July 2025)
The primary driver behind this significant investment is Gulf Air’s strategic imperative to broaden its global reach. The airline has explicitly stated that the new 787s will be used to launch and sustain long-haul routes. A key example of this strategy in action is the recent resumption of flights to New York’s John F. Kennedy (JFK) Airport in October 2025, a service that had been dormant for 28 years. This route marks a confident return to the North American market, and the additional aircraft will provide the capacity needed to ensure its success and explore other potential destinations.
Beyond North America, the expanded fleet will empower Gulf Air to explore new gateways in Europe and Asia. This allows the airline to tap into new passenger and cargo markets, diversifying its revenue streams and reducing its reliance on traditional routes. By connecting Bahrain to more global economic centers, Gulf Air is not only boosting its own commercial prospects but also contributing to the Kingdom of Bahrain’s economic development by fostering tourism, trade, and business travel.
The ripple effects of this deal extend beyond the airline itself. A strengthened national carrier with a modern, efficient fleet enhances the country’s international prestige and connectivity. For Boeing, the agreement represents another vote of confidence in its flagship 787 program from a key Middle Eastern partner. It reinforces the Dreamliner’s position as the aircraft of choice for airlines looking to balance long-range operational needs with economic and environmental performance. The finalization of the agreement for up to 15 new Boeing 787 Dreamliners is more than a simple fleet transaction; it is a clear statement of intent from Gulf Air. The airline is embarking on a deliberate and strategic path of modernization and expansion, equipping itself with the right tools to navigate the competitive landscape of international aviation. This move will enhance its operational capabilities, improve its service offering, and extend its network to previously untapped markets.
Looking ahead, the successful integration of these new aircraft will be crucial. As Gulf Air takes delivery of the Dreamliners, the industry will be watching to see how effectively it leverages them to build on its recent network expansions, like the New York route. This investment lays the groundwork for a more resilient, competitive, and globally recognized Gulf Air, ready to write the next chapter in its long and storied history.
Question: How many Boeing 787 Dreamliners did Gulf Air order? Question: Where was the deal announced? Question: What is the purpose of this aircraft purchase?
Gulf Air Solidifies Fleet Expansion with Boeing 787 Dreamliner Deal
Finalizing the Fleet of the Future
Strategic Expansion and Global Reach
Conclusion: A New Chapter for Gulf Air
FAQ
Answer: Gulf Air finalized an agreement for between 12 and 15 Boeing 787 Dreamliner aircraft. This appears to be a finalization of a previous commitment for 12 firm orders and 6 options.
Answer: The agreement was publicly announced at the Dubai Airshow on Tuesday, November 18, 2025.
Answer: The acquisition is a key part of Gulf Air’s strategy to modernize its fleet and expand its long-haul route network, with a focus on new destinations in North America, Europe, and Asia.
Sources
Photo Credit: Boeing
Aircraft Orders & Deliveries
BOC Aviation Renews $3.5B Credit Facility with Bank of China to 2031
BOC Aviation extends its $3.5 billion revolving credit facility with Bank of China to 2031, securing liquidity for aircraft investments and growth.
This article is based on an official press release from BOC Aviation.
BOC Aviation Limited has officially announced the renewal of its US$3.5 billion unsecured revolving credit facility (RCF) with its majority shareholder, the Bank of China. Confirmed on February 16, 2026, the transaction extends the maturity of the facility to February 13, 2031, providing the Singapore-based lessor with a five-year horizon of secured liquidity.
The renewal maintains the facility’s total value at the same level established during its 2020 expansion. According to the company, this move is designed to bolster financial flexibility and ensure consistent access to capital for aircraft investments, regardless of broader market cycles. The agreement underscores the continued financial backing BOC Aviation receives from its parent company, a critical differentiator in the competitive aircraft leasing sector.
The renewed agreement is an unsecured revolving credit facility, a structure that allows BOC Aviation to draw down, repay, and re-borrow funds as needed up to the US$3.5 billion limit. By extending the maturity date to 2031, the lessor secures a long-term funding runway to support its growth strategy.
Steven Townend, Chief Executive Officer and Managing Director of BOC Aviation, emphasized the strategic importance of this renewal in a statement released by the company. He highlighted the alignment between the lessor and its parent organization.
“This RCF extension reflects the confidence that Bank of China has in the future of our business and underscores the depth of our relationship with our major shareholder. The facility strengthens our financial flexibility and ensures our access to ample liquidity to support our aircraft investments across the cycle.”
, Steven Townend, CEO of BOC Aviation
The credit facility has grown significantly alongside BOC Aviation’s fleet over the last two decades. The company provided a timeline of the facility’s evolution, illustrating the increasing scale of support from the Bank of China:
This liquidity event occurs against a backdrop of significant operational activity for the lessor. As of December 31, 2025, BOC Aviation reported a total portfolio of 815 aircraft and engines, including owned, managed, and ordered assets. The company’s reach extends to 87 airlines across 46 countries and regions.
Data released regarding the full year 2025 indicates robust activity, with the company taking delivery of 51 new aircraft and executing a record 333 transactions. These transactions included 160 aircraft purchase commitments, signaling an aggressive growth posture that necessitates substantial available capital. In addition to the RCF renewal, BOC Aviation has recently moved to diversify its funding sources. In early February 2026, the company successfully priced US$500 million in senior unsecured notes. The combination of these notes and the renewed RCF provides a multi-layered capital structure to fund future acquisitions.
The renewal of this facility highlights a structural advantage for BOC Aviation compared to independent lessors. In a high-interest-rate environment or during periods of market volatility, the cost of funds is a primary determinant of a lessor’s profitability. The direct backing of a major state-owned bank allows BOC Aviation to secure large-scale liquidity that might be more expensive or difficult to arrange for competitors without similar parentage.
Furthermore, with supply chain constraints continuing to affect Airbus and Boeing deliveries in 2026, lessors with ready cash are better positioned to execute sale-and-leaseback (SLB) transactions with airlines desperate for liquidity. By locking in US$3.5 billion in revolving credit through 2031, BOC Aviation is effectively positioning itself to act as a liquidity provider to the airline industry, potentially acquiring assets at attractive valuations while manufacturers struggle to meet delivery targets.
BOC Aviation Secures US$3.5 Billion Facility Renewal with Bank of China
Transaction Details and Management Commentary
Historical Evolution of the Facility
Operational Context and Financial Position
AirPro News Analysis
Sources
Photo Credit: BOC Aviation
Aircraft Orders & Deliveries
Air Astana Orders 15 Boeing 787-9 Dreamliners to Expand US Routes
Air Astana finalizes $7B order for 15 Boeing 787-9 Dreamliners to modernize its fleet and enable direct flights to North America starting 2026.
This article is based on an official press release from Boeing and Air Astana.
On February 17, 2026, Air Astana JSC, the flag carrier of Kazakhstan, officially finalized a major agreement with Boeing for up to 15 Boeing 787-9 Dreamliner aircraft. The deal, announced in Seattle, marks the largest single aircraft purchase in the airline’s history and signals a pivotal shift in its long-haul strategy. Valued at approximately $7 billion at list prices, the agreement is designed to modernize the carrier’s widebody fleet and facilitate direct operations to North America.
The acquisition comes at a critical transition point for the Airlines, coinciding with a leadership change and following its recent IPO. According to the official announcement, the new fleet will replace aging Boeing 767s and provide the range necessary to navigate complex geopolitical airspace restrictions while connecting Central Asia to the United States.
The agreement creates a long-term pipeline for fleet renewal. According to details released regarding the Contracts, the order for 15 aircraft is structured in three tiers:
While the newly purchased jets are scheduled for delivery between 2032 and 2035, Air Astana will begin operating the Dreamliner much sooner. Through a separate agreement with Air Lease Corporation (ALC), three leased Boeing 787-9s are expected to join the fleet in the first quarter of 2026. These leased units will allow the carrier to begin pilot training and route expansion immediately, bridging the gap until the direct orders arrive.
The selection of the 787-9 variant represents a significant upgrade in capacity and efficiency over Air Astana’s current widebody workhorse, the Boeing 767-300ER. Data provided in the announcement indicates the new Dreamliners will feature a two-class configuration with 303 seats, a substantial increase from the 223 seats offered on the 767s.
In a notable strategic pivot, Air Astana has selected General Electric GEnx-1B engines to power the new fleet, moving away from a 2012 intention to utilize Rolls-Royce Trent 1000 engines. The airline cites the 787-9’s superior fuel efficiency and range, approximately 7,530 nautical miles, as critical factors in the decision.
“Boeing airplanes have been integral to Air Astana’s operations from the beginning. We are proud that the 787 Dreamliner will support Central Asia’s growing importance in global aviation.”
, Paul Righi, VP of Commercial Sales (Eurasia), Boeing
A primary driver behind this investment is the airline’s ambition to launch non-stop service from Kazakhstan to New York (JFK). This route has long been a strategic goal but faces significant logistical hurdles due to the closure of Russian airspace following geopolitical sanctions. The current geopolitical climate necessitates a southern route over the Caspian Sea, Turkey, and Europe, adding considerable distance to the flight path. The extended range of the Boeing 787-9 is essential to making this detour commercially and operationally viable, allowing Air Astana to bypass Russian airspace without sacrificing payload or requiring technical stops.
The timing of this order suggests Air Astana is aggressively positioning itself as the dominant connector in the Central Asian market, outpacing regional competitors like Uzbekistan Airways. By securing the 787-9, the airline is not only solving the immediate problem of airspace restrictions but is also future-proofing its fleet against fuel price volatility. The shift to GE engines likely reflects a desire for reliability on these ultra-long-haul routes, where engine performance over remote regions is paramount.
The finalization of this order serves as a capstone achievement for outgoing CEO Peter Foster, who is set to retire in March 2026. Foster has led the airline through its recent IPO and this historic fleet renewal. He will be succeeded by current CFO Ibrahim Canliel, who will oversee the financial integration of these assets.
“The 787-9’s advanced technology and efficiency will allow us to connect Kazakhstan to new markets, including North America, with a superior passenger experience.”
, Peter Foster, Outgoing CEO, Air Astana
Sources: Boeing Mediaroom
Air Astana Finalizes Historic Orders for 15 Boeing 787-9 Dreamliners to Target US Routes
Deal Structure and Delivery Timeline
Technical Specifications and Fleet Modernization
Strategic Expansion: The “Holy Grail” of New York
AirPro News Analysis
Leadership Transition
Sources
Photo Credit: Boeing
Aircraft Orders & Deliveries
BlueFive Capital Launches Aircraft Leasing Platform in Oman Targeting $1B Fund
BlueFive Capital launches BlueFive Leasing in Muscat, Oman, aiming to raise over $1 billion to acquire commercial aircraft assets across Middle East, Asia, and Africa.
This article is based on an official press release from BlueFive Capital.
BlueFive Capital, a global alternative investment firm, has officially announced the launch of BlueFive Leasing, a new dedicated aircraft leasing and asset management platform headquartered in Muscat, Oman. The initiative marks a significant expansion for the firm, which is led by former Investcorp Co-CEO Hazem Ben-Gacem.
According to the company’s announcement, the new venture is established through a strategic partnership with a major Omani sovereign institution. To fuel its operations, BlueFive Leasing has commenced fundraising for BlueFive Wings Fund I, an investment vehicle targeting more than $1.0 billion in capital commitments to acquire commercial aircraft assets.
BlueFive Leasing aims to capitalize on the robust demand for air travel across the Middle-East, Asia, and Africa. By establishing its headquarters in Muscat, the platform aligns with broader regional goals to develop local financial markets and diversify economic activities.
The platform’s mandate is broad, covering the full age spectrum of commercial-aircraft. According to the press release, the company plans to build a portfolio containing a mix of:
This flexible approach allows BlueFive Leasing to offer competitive solutions to established airlines globally, particularly those modernizing fleets or expanding routes in high-growth emerging markets.
“The launch of BlueFive Leasing reflects our strategic ambition to diversify regional investment portfolios and provide a new source of aviation capital from the GCC.”
, Hazem Ben-Gacem, Founder & CEO of BlueFive Capital
The launch of the leasing platform follows a period of rapid growth for BlueFive Capital. Founded in late 2024, the firm has quickly scaled its operations. Following the recent close of its $3 billion Onyx Fund I, which focuses on technology investments in the U.S. and Europe, BlueFive Capital now reports approximately $7.4 billion in assets under management (AUM).
Hazem Ben-Gacem, who brings three years of leadership experience from Investcorp, serves as the driving force behind the firm. While specific executive appointments for the leasing arm’s day-to-day management have not yet been detailed, the company states it has assembled an expert management team with deep experience in aviation finance. The establishment of BlueFive Leasing represents more than just a new investment vehicle; it signals the continued maturation of the Gulf Cooperation Council (GCC) as a global hub for aviation finance. Historically, the region was known primarily for its world-class carriers like Emirates and Qatar Airways. Today, however, Gulf nations are moving “upstream” to own the assets themselves.
BlueFive Leasing joins a growing list of regional heavyweights, including Dubai Aerospace Enterprise (DAE) and Saudi Arabia’s AviLease. By partnering with an Omani sovereign institution, widely believed by industry analysts to be the Oman Investment Authority (OIA) or its Future Fund Oman, BlueFive is effectively leveraging sovereign wealth to capture value from the very assets that service the region’s booming travel hubs.
Furthermore, the decision to trade across the “full age spectrum” rather than focusing exclusively on new-technology aircraft suggests an opportunistic strategy. This approach may allow the firm to generate higher yields by trading mid-life assets, a segment where demand remains high due to production delays at major manufacturers like Boeing and Airbus.
BlueFive Capital Launches Aircraft Leasing Platform in Oman, Targets $1 Billion Fund
Strategic Expansion into Aviation Finance
Leadership and Capital Growth
AirPro News Analysis
Summary of Key Facts
Sources
Photo Credit: BlueFive
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