Saudi Arabia’s sovereign wealth fund is close to closing a deal to buy a large batch of Boeing commercial jets to be used by the country’s new national airline. This is with reference to informed sources. informs edition of The Wall Street Journal (WSJ). According to some of these sources, the total order is as high as $35 billion, and the number of aircraft on order could be 100 or more.
An official announcement of this deal could be made in the coming days, WSJ sources say, and will be timed to coincide with the presentation of the new national airline for which these aircraft are intended. According to sources, among the ordered aircraft will be wide-body models, which are more often used for long-haul flights.
The Saudi authorities announced plans to create a new air carrier back in 2021. Its launch is part of a program to diversify the country’s economy, which relies heavily on oil production. Saudi authorities estimate that the creation of a second national carrier will help the country become a global business center and compete with other airlines in the region.
