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 New York Telegraph.

More Information

43 ℉

Fair in New York/Battery

International

Section

North Carolina to add thousands of people to Medicaid rolls this week

RALEIGH, North Carolina: After a decade of discussions and hesitations, North Carolina has expanded Medicaid coverage by offering government-funded health ...

Pentagon secretly providing bombs for Israeli bombardments

The U.S. has supplied Israel with scores of BLU-109 bunker-buster bombs since October 7, the Wall Street Journal has reported, ...

Biden administration says EPA to replace lead water pipes in 10 years

WASHINGTON D.C.: This week, the Biden administration announced a proposal by the Environmental Protection Agency (EPA) that would require U.S. ...

Cyberattack hits Japan space agency, rocket and satellites unaffected

TOKYO, Japan: Japan's space agency recently fell victim to a cyberattack, but reassuringly, the compromised information did not pertain to ...

Michigan man sentenced to prison term for keeping dead wife in freezer

MOUNT PLEASANT, Michigan: This week, a judge sentenced a Michigan man who kept his dead wife's body in a freezer ...

US CDC says life expectancy for newborns in 2022 gained a year

ATLANTA, Georgia: After two consecutive years of declines mainly caused by the COVID-19 pandemic, babies born in the U.S. in ...

New York

Section