Boeing wins $37 bn order for 78 Dreamliners to Saudi Arabian airlines

Boeing revealed its order from two Saudi Arabian airlines — Saudi Arabian Airlines (Saudia) and Riyadh Air — to buy 78 787 Dreamliners.
Boeing 737 Max
This is the fifth largest commercial order by value in the history of Boeing.

State-owned Saudi Arabian Airlines (Saudia) and newly launched national airline Riyadh Air will each buy 39 widebody 787s from the U.S.-based planemaker.

The deal contains options for 10 additional Dreamliners for Saudia and 33 for Riyadh Air.

The list prices for 78 planes would total nearly $37 billion, Reuters reported.

Boeing Chief Executive Dave Calhoun said the order showed the huge demand for widebody airplanes around the world as tourism continues to rebound, and is the latest in a series of big 787 orders.

Dave Calhoun said the planemaker was standing by its 787 production guidance announced in November, which calls for Boeing to ramp up to 10 787s by the 2025-2026 timeframe.

The Federal Aviation Administration on Friday approved Boeing’s plan to resume deliveries of the 787.

European rival Airbus was targeting to secure a part of the deal. Saudia currently operates both Airbus and Boeing jets. Saudia operates more than 50 Boeing airplanes on its long-haul network, including the 777-300ER (Extended Range) and 787-9 and 787-10 Dreamliner.

Riyadh Air is wholly owned by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), which has more than $600 billion in assets and is the main driver of the kingdom’s efforts to wean itself off oil.

The airline will serve more than 100 destinations around the world by 2030 and will directly compete against Emirates and Qatar Airways.

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