Boeing Nears $35 Billion Deal for New Saudi National Airline

  • Publish date: Monday، 13 March 2023
Boeing Nears $35 Billion Deal for New Saudi National Airline

The Public Investment Fund (PIF) of Saudi Arabia is reportedly in the final stages of a deal to purchase Boeing commercial jets for a new national airline. The Wall Street Journal reported that the order is worth $35 billion and could be announced soon during the official launch of the national airline. The order includes wide-body jets typically used for long international flights.

In October last year, industry sources stated that Saudi Arabia was in talks to purchase approximately 40 A350 jets from Airbus. Meanwhile, Boeing was also reportedly vying for a share of the country's transportation expansion.

The CEO of Saudi Arabian Airlines (Saudia) had also confirmed to Reuters that the airline was in discussions with both Boeing and Airbus for orders that would cover Saudia as well as the new carrier, RIA.

The purchase of the Boeing commercial jets by Saudi Arabia's Public Investment Fund (PIF) for a new national airline is in line with the country's ambitious plan to become a transportation hub and boost tourism. The deal is a key component of the kingdom's strategy for rapid expansion in this sector.

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