Riyadh Air, launched by the Public Investment Fund (PIF) has struck a multi-billion dollar deal with The Boeing Company, placing an order of up to 72 Boeing 787-9 Dreamliners and options for further 33 additional airplanes.
This agreement will be part of the fifth largest commercial order by value in Boeing’s history. In the United States alone, the deal is expected to support nearly 100,000 direct and indirect jobs and more than 300 suppliers from across 38 states, including 145 U.S. small businesses. As for Saudi Arabia, the new airline is expected to add USD20 billion to non-oil GDP growth and create more than 200,000 direct and indirect jobs.
This power move is a part of Saudi Arabia’s wider strategic plan to transform the country into a global aviation hub. This initiative will also support the country’s goal of serving 330 million passengers and attracting 100 million visits by 2030.
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Keeping Riyadh’s environmental goals in mind, the new airline aims to operate as one of the most sustainable airline fleets in the world, while intending to meet the most stringent noise regulations.
“This is a momentous day for PIF and Riyadh Air. We look forward to fostering strong strategic relationships within the wider aviation ecosystem as we continue to shape the new airline to become one of the leading carriers around the world,” exclaimed His Excellency Yasir Al-Rumayyan Governor of the PIF and Chairman of Riyadh Air.
Stan Deal, President and CEO of Boeing Commercial Airplanes also shared his thoughts on this new venture. “This is a significant order that will support Riyadh Air’s commitment to deliver a world-class travel experience, while supporting American aerospace manufacturing jobs at Boeing and across our supply chain. We are incredibly proud of our nearly eight decades of partnership to drive innovation and sustainable growth in Saudi Arabia’s aviation sector.”
With cutting edge of technology that enables digital innovation, Riyadh Air will offer a unique guest experience, accentuated with authentic, warm Saudi hospitality at its heart.
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