Wall Steet Journal: Saudi Arabia plans to acquire large lot of Boeing airplanes

Wall Steet Journal: Saudi Arabia plans to acquire large lot of Boeing airplanes

Saudi Arabia considers acquisition of commercial airplanes Boeing for 35 billion USD for new state airline company informs Wall Street Journal.

“Saudi Arabia’s Public Investment Fund is close to conclusion of the deal with Boeing about acquisition of commercial airplanes for new state airline company”, – writes edition with the reference to unnamed sources familiar with the matter.

As the message says the transaction amount may reach 35 billion USD. It is expected that transaction for total amount of 35 billion USD will be provided production of “big number” of the airplanes, including wide-body airplanes.

For this contract also pretend European aviation company Airbus that is why agreement may change at the last minute.

Crown prince of Saudi Arabia Mohammed ben Salman Al Saud announced creation of new airline company Riyadh Air that will be managed by former CEO of Etihad Airways Tony Douglas.

Air carrier Riyadh Air should improve flight connection between kingdom and Asia, Europe and Africa. /it is expected that airline company will add 20 billion USD to the growth of non-oil GDP and will create more than 200000 direct and indirect jobs, – says the declaration of the Saudi Arabia’s Public Investment Fund (PIF).

To 2023 airline company Riyadh Air will serve more than 100 directions all over the world. Riyadh Air will base in the capital and will fully belong to PIF. Yasir bin Osman Al-Rumayyan, the governor of the Public Investment Fund will be in charge of the company’s board of directors. Senior managers of the airline company will be both Saudis and foreign employees.

This announcement followed disclosure in November 2022 of general plan of the new big airport in Riyadh – King Salman International Airport.