Boeing to sell some 80 787-planes to Saudi airlines

Robert Besser
15 Mar 2023, 22:39 GMT+10

Boeing said it expects to sell 78 787-Dreamliner airplanes to two Saudi Arabian airlines, state-owned Saudi Arabian Airlines (Saudia) and new national airline Riyadh Air
The deal is expected is expected to be finalized as soon as this week, and the total value of the 78 planes would be $37 billion
The airlines are expected to buy the 787s split between the two buyers, with the option to purchase an additional 43 aircraft

ALEXANDRIA, Virginia: Confirming a previous report by the Wall Street Journal, Boeing said it expects to sell 78 787-Dreamliner airplanes to two Saudi Arabian airlines, state-owned Saudi Arabian Airlines (Saudia) and new national airline Riyadh Air.

The deal is expected is expected to be finalized as soon as this week, and the total value of the 78 planes would be $37 billion.

The airlines are expected to buy the 787s split between the two buyers, with the option to purchase an additional 43 aircraft.

As the kingdom aims to compete with other regional transport and travel hubs, Saudi Arabia's Crown Prince Mohammed bin Salman announced the launch of Riyadh Air.

Saudi news agency SPA said Riyadh Air will serve more than 100 destinations around the world by 2030, utilizing the kingdom's location between Asia, Africa and Europe.

The agency added that the new airline is expected to add $20 billion to Saudi Arabia's non-oil GDP growth and create more than 200,000 direct and indirect jobs.

Riyadh Air is wholly owned by Saudi Arabia's sovereign wealth fund, the Public Investment Fund.

Meanwhile, Reuters reported that while Boeing was lobbying for a slice of the kingdom's transportation expansion, Saudi Arabia was in advanced negotiations to order almost 40 A350 jets from Airbus in October.

The deal with the two Saudi airlines follows a major order in December for 100 787 Dreamliners and 100 737 MAX planes from United Airlines.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cape Town Express.

More Information

17 ℃

Fair in Cape Town

International

Section

Six young people dead in Tennessee freeway collision

MEMPHIS, Tennessee: Tennessee authorities are slowly releasing information about a weekend car crash on a freeway that killed six young ...

180 Rohingya Muslim refugees land boat in Indonesia's Aceh

JAKARTA, Indonesia: Officials from Indonesia's Aceh province said that more than 180 Rohingya Muslims landed this week by boat, in ...

Hong Kong demonstrators hold protest amidst strict restrictions

HONG KONG: Hong Kong's first authorized protest took place since the end of COVID-19 restrictions and under new strict security ...

Trying to avoid general call-up, Russia offering men cash to join army

MOSCOW, Russia: A new campaign has begun across Russia to attract badly needed recruits to replenish its troop numbers for ...

Security concerns behind proposed US ban of TikTok

WASHINGTON D.C.: US House of Representatives Speaker Kevin McCarthy has said that lawmakers will move forward on legislation aimed at ...

In first, US tribal university to offer PhD degree

CROWNPOINT, New Mexico: Navajo Technical University, located on the largest Native American reservation in the US, has become the first ...

South Africa

Section

Sri Lanka's direct World Cup qualification chances hinge on crucial Hamilton encounter

Hamilton [New Zealand], March 30 (ANI): Sri Lanka trails New Zealand 1-0 in the three-match series with the first game ...

Saudi Arabia makes move towards Russia-China bloc

The Kingdom has approved ?partner? status in the Shanghai Cooperation OrganizationKing Salman bin Abdulaziz Al Saud has signed the documents ...

IPL's top batting performances: Gayle's 175 still the best

New Delhi [India], March 30 (ANI): The IPL, Season 16 is all set to begin. It's a tournament where impact ...

Kallis makes early predictions on who will walk away with IPL 2023 trophy

Mumbai (Maharashtra) [India], March 30 (ANI): Legendary South Africa all-rounder Jacques Kallis on Thursday made an early prediction as to ...

IPL 2023: Sunrisers Hyderabad skipper Markram to miss season opener against Rajasthan Royals, Bhuvneshwar Kumar to lead side

Telangana (Hyderabad) [India], March 30 (ANI): Indian pace veteran Bhuvneshwar Kumar will lead Sunrisers Hyderabad in their Indian Premier League ...

Chris Gayle recalls his memories with Royal Challengers Bangalore ahead of IPL 2023

Bengaluru (Karnataka) [India], March 30 (ANI): Royal Challengers Bangalore is one of the most beloved teams since the inception of ...