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15-03-23

Saudi Arabia, Boeing agree on USD37bn agreement for 121 aircraft

(MENAFN) Saudi Arabia has accepted a USD37 billion agreement with US company Boeing which is going to witness the firm manufacture up to 121 aircraft to support get the nation’s new airline off the ground.

The agreement is going to witness Boeing 787 Dreamliner planes with General Electric engines welcomed to Saudi Arabia, with 72 of them prepared for Riyadh Air – the carrier declared by Saudi Crown Prince Mohammed bin Salman on Sunday.

An amount 39 of the planes are approved for the additional airline, which has the possibility to obtain 33 more.

Riyadh Air is entirely possessed by the Public Investment Fund, and its governor Yasir Al-Rumayyan – also ruled of the carrier – stated that “This is a momentous day for PIF and Riyadh Air, and highlights our determination to significantly extend Saudi Arabia’s connectivity with the world.

Adding, "Our stated commitment is to create a world-class airline and this partnership with Boeing in building the fleet is the next step in achieving the aspirations of Saudi Arabia as a global transportation hub.”

He continued: "We look forward to fostering strong strategic relationships within the wider aviation ecosystem as we continue to shape the new airline to become one of the leading carriers around the world.”

Stan Deal, president and chief executive of Boeing Commercial Airplanes, greeted the “significant order", also mentioning that "We are incredibly proud of our nearly eight decades of partnership to drive innovation and sustainable growth in Saudi Arabia’s aviation sector. Our agreement builds on that longstanding partnership and will further expand access to safe and sustainable commercial air travel for decades more.”

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