Riyadh Air, Saudia seal mega Boeing order for 72 Dreamliners
RIYADH, March 14, 2023
Boeing has announced that it had secured a massive order for 787 Dreamliner jets from two Saudi carriers - Riyadh Air, the new world-class airline launched by the kingdom’s sovereign wealth fund PIF, and the national carrier Saudia - which will each buy 39 jets.
This agreement is part of Saudi Arabia’s wider strategic plan to transform the country into a global aviation hub. In total, national carriers have announced their intent to purchase up to 121 787 Dreamliners in what will be the fifth largest commercial order by value in Boeing’s history.
This will support the country’s goal of serving 330 million passengers and attracting 100 million visits by 2030, stated Saudi PIF officials today (March 14) while sealing the mega order of up to 72 Boeing 787-9 Dreamliner airplanes with Boeing.
This unprecedented order for a new carrier – 39 confirmed aircraft with an option to acquire 33 additional wide-body 787-9 Dreamliner airplanes – is a strong signal of intent for Saudi Arabia to become a global aviation hub, they added.
The 787 is a twin-aisle plane typically used on popular or long routes. Riyadh Air is buying 787-9 planes, which can carry about 300 passengers, while Saudia will buy that model and the 787-10, which can carry more than 330 passengers.
Single-aisle planes like the Boeing 737 Max carry fewer passengers and are more commonly used for shorter trips.
In terms of economic impact, in the US, the deal is expected to support nearly 100,000 direct and indirect jobs and more than 300 suppliers from across 38 states, including 145 US small businesses, while in Saudi Arabia, the new airline is expected to add $20 billion to non-oil GDP growth and create more than 200,000 direct and indirect jobs.
The order also underlines the importance of Riyadh Air environmental goals as it aims to operate one of the newest and most sustainable airline fleets in the world, while intending to meet the most stringent noise regulations.
Operating from the capital of Riyadh, a thriving international metropolis rich in history and culture with a futuristic vision embodied by Vision 2030, Riyadh Air will help enable the transformation of the capital into one of the world’s top cities economies.
The city has a rich history and is home to some of the most ambitious new projects in the world, including King Salman International Airport, Qiddiya, Sports Boulevard, King Salman Park, Diriyah Gate, and the New Murabba Development. Saudi Arabia has a unique strategic geographical location that connects the three continents of Asia, Africa and Europe.
The new world-class airline aims to connect millions of leisure and business travelers to more than 100 destinations around the world by 2030 following this partnership with The Boeing Company.
The order from the Saudi airlines is a sign of the growing strength of the global travel rebound. Last month, Air India ordered 220 Boeing airplanes and 250 from Airbus, stated the aviation giant.
Riyadh Air will be at the cutting edge of technology enabling digital innovation at every guest touchpoint while offering an exceptional guest experience with authentic, warm Saudi hospitality at its heart.
PIF Governor and Riyadh Air Chairman Yasir Al Rumayyan said: "This is a momentous day for PIF and Riyadh Air, and highlights our determination to significantly extend Saudi Arabia’s connectivity with the world. Our stated commitment is to create a world-class airline and this partnership with Boeing in building the fleet is the next step in achieving the aspirations of Saudi Arabia as a global transportation hub."
"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," he stated.
Stan Deal, President and CEO of Boeing Commercial Airplanes, said: "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. Our agreement builds on that longstanding partnership and will further expand access to safe and sustainable commercial air travel for decades more," he added.
Riyadh Air CEO Tony Douglas said: "The new airline reflects the ambitious vision of Saudi Arabia to be at the core of shaping the future of global air travel and be a true disrupter in terms of guest experience. Riyadh Air’s commitment to its guests will see the integration of digital innovation and authentic Saudi hospitality to deliver a seamless travel experience."
"By positioning the airline as both a global connector and a vehicle to drive tourist and business travel to Saudi Arabia, our new 787-9 airplanes will serve as a foundation for our worldwide operations, as we build the wider network and connect our guests to Saudi Arabia and many destinations around the world," he stated.
Riyadh Air will be a digitally led full-service airline with a commitment to sustainability reflecting Saudi Arabia’s transformative projects under Vision 2030. It will operate in line with the country’s strides toward net zero emissions.
The 787-9 Dreamliner model is manufactured with environmental impact considerations in mind, including CO2 emissions, fuel efficiency and noise regulations, stated Deal.
As an airline that will be a global leader, Riyadh Air will equip its airplanes with the most advanced, state-of-the-art features with innovative, best-in-class cabin interiors and experiences, including next generation digital in-flight entertainment systems and connectivity solutions, said Douglas.
The first deliveries of the widebody aircraft are scheduled for early 2025, he added.
The new airline was officially launched earlier this week and will serve as a lever to help fulfill Saudi Arabia’s Vision 2030 objectives.-TradeArabia News Service
