Saudis order 121 Boeing aircraft to launch new carrier
The Arab country stroke a USD 37 billion deal with the US aircraft manufacturer. Most planes are set for Riyadh Air — the carrier announced by the Saudi prince earlier this week.
Saudi Arabia has agreed a USD 37 billion deal with US firm Boeing for 121 aircraft, with most of them set for the Arab country’s new carrier. On Sunday (12) Saudi prince Mohammed bin Salman announced the creation of Riyadh Air, Saudi Arabia’s second carrier after Jeddah-based Saudia.
The deal will see Boeing 787 Dreamliner planes with General Electric engines delivered to Saudi Arabia. Some 39 of the planes are a firm order confirmed for Riyadh Air, which has an option to acquire 33 more.
Riyadh Air is wholly owned by the Public Investment Fund (PIF), and its governor Yasir Al-Rumayyan – also chairman of the carrier – said the initiative highlights the country’s determination to significantly extend Saudi Arabia’s connectivity with the world. He said the carrier will be a world-class airline and this partnership is the next step in achieving the Saudi aspirations as a global transportation hub.
The new airline is expected to add USD 20 billion to Saudi Arabia’s non-oil gross domestic product growth and create more than 200,000 direct and indirect jobs. PIF has invested in different projects to diversify the economy of Saudi Arabia. Last November the country announced plans for a new airport in the capital Riyadh that is set to accommodate 120 million travelers per year by 2030 and 185 million travelers by 2050.