Saudi’s Riyadh Air to Buy 150 Boeing Jets – Report
Saudi Arabia’s Riyadh Air is looking to buy at least 150 Boeing 737 Max jets to boost its fleet, according to media reports. Bloomberg said the PIF-owned airline is planning a fleet of up to 400 single-aisle jets. Citing sources familiar with the matter, Bloomberg said Airbus could swoop in to claim a portion of the order.
There are close ties between the upcoming Saudi Airlines and Boeing. Earlier this year Riyadh Air announced an order of up to 72 Boeing 787-9 Dreamliner planes in a multi-billion-dollar deal. Meanwhile, Saudia announced it will buy up to 49 Boeing 787 Dreamliners as it looks to expand its fleet.
In total, national carriers also announced their intent to purchase up to 121 787 Dreamliners. The market rate for a Boeing 737 Max jet is approximately, meaning an order for 150 new jets could cost as much as $8bn.
However, with Saudi Arabia’s hunger for acquiring Boeing jets and the close ties to aviation in the Kingdom, it is likely Riyadh Air will have been given a healthy discount based on the size of the order.
