Saudi Arabia unveils a new airline, Riyadh Air, amid its jet talks with Boeing
Still, Saudi Arabia enters the field with much deeper pockets than its neighbors. The kingdom’s coffers have swelled on the back of higher crude prices. Separately on Sunday, Saudi Arabian Oil Co., known better as Aramco, reportedfor 2022, the largest ever by an energy company. The bumper earnings reflect a dramatic turnaround for the industry—and petrostates like Saudi Arabia—after the Ukraine war lifted oil prices and upended commodity flows.
The potential Boeing aircraft order is valued at about $35 billion, according to people familiar with it. It couldn’t be determined whether that included the typically steep discounts aircraft makers give their customers.had been competing for the Saudi deal for months, people familiar with the matter said. A potential Saudi order has been expected to involve as many as 100 airplanes or more, according to people briefed on the competition.
Aircraft deals can include a mix of confirmed orders and options to buy more later. They can also fall apart in their later stages.often used in long-haul international flying. On its new website, Riyadh Air said it was looking for pilots for new Boeing 787 Dreamliners. Saudi Arabia had previously said it was planning to launch a second national airline as part of a wider agenda to create new economic sectors unrelated to oil. Saudi Arabian Airlines, known as Saudia, currently serves as the country’s flag carrier.
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