Saudi Arabia Riyadh Air close to 100 Boeing 737 Max deal
Riyadh Air, an airline backed by Saudi Arabia's Public Investment Fund, is in advanced discussions to acquire a substantial number of Boeing Co. 737 Max aircraft for its short-haul fleet.
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Riyadh Air Nears Deal to Acquire Boeing 737 Max Jets
According to reports quoting unnamed sources, the airline is thinking about placing a definitive order for around 50 jets, with options for another equal number. This is a big deal for Riyadh Air's expansion goals, and it fits in with Crown Prince Mohammed bin Salman's overall strategy to broaden Saudi Arabia's economic base.
Finalizing the Deal
While the discussions have reached an advanced stage, the exact number of aircraft may still undergo minor adjustments as the deal is finalized.
Riyadh Air's Ambitious Plans
Riyadh Air has set its sights on enhancing its network and challenging well-established regional players. This strategic move is a crucial part of Crown Prince Mohammed Bin Salman's plan to transform Riyadh into a prominent business center. Riyadh Air aims to compete with larger Gulf airlines for a share of the global transfer traffic market.
Boeing's Potential Triumph
Should the deal come to fruition, it would represent another significant success for Boeing. Notably, the American aerospace company had previously inked an agreement with Riyadh for a potential acquisition of 72 787 wide-body aircraft in March.
Riyadh Air's preference for Boeing in the single-aisle aircraft purchase is partly attributed to Airbus SE's limitations in providing near-term delivery slots for its A320 family. These slots are largely reserved for the remainder of the decade, further favoring Boeing's position.
Anticipation at the Dubai Air Show
The biennial Dubai Air Show, commencing on Monday, is expected to be a platform for major aircraft order announcements from various airlines. This includes Emirates, a local giant in the aviation industry.
Riyadh Air's Hints
In a recent interview, Douglas, a spokesman for Riyadh Air, hinted to a significant acquisition of single-aisle aircraft from a single manufacturer. But at this point, the carrier had not revealed the precise model that it had selected. The ongoing discussions and changes at Riyadh Air are being watched carefully because they represent a critical juncture in the expansion and regional impact of the airline.