By The Financial District
Boeing Could Earn A Windfall From Riyadh Air, Saudi Arabia's Newest Airline
Saudi Arabia unveiled Riyadh Air, bidding to join other Middle Eastern carriers that have built fleets to attract tourists and travelers, The Wall Street Journal reported.
Photo Insert: Riyadh Air will be Saudi Arabia’s second national airline.
The kingdom’s sovereign-wealth Public Investment Fund (PIF) is arranging a deal for aircraft with Boeing, the report said.
The potential Boeing order is valued around $35 billion, the Journal reported, though there could be discounts not reflected in that price. Boeing and Airbus have been competing for it for months, and it could involve up to 100 planes, Barron’s Daily reported on Mar. 13, 2023.
The Boeing deal was expected to include wide-bodied jets that are used in long-haul flights, the Journal reported. Riyadh Air said on its website it is seeking pilots for new Boeing 787 Dreamliners. It will be Saudi Arabia’s second national airline.
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