MYNORTHWEST NEWS

Boeing reaches deal to sell 787 Dreamliners to Saudi airlines

Mar 14, 2023, 12:40 PM | Updated: 1:21 pm

787 Dreamliner...

A 787 Dreamliner takes flight. (Getty Images)

(Getty Images)

Boeing has reached a deal to sell 78 of its 787 Dreamliner planes to two Saudi airlines.

The jetliners will go to Saudia — formally known as Saudi Arabian Airlines — and a new airline called Riyadh Air.

CNBC reported there is no timeline for deliveries of the planes, but the White House has already praised the $37 billion sale.

Boeing stated the agreement, “is part of Saudi Arabia’s wider strategic plan to transform the country into a global aviation hub.”

It is the latest large order for the wide-body jets within the past few months.

Saudia ordered 39 of the planes, with an option for 10 more later on, while Riyadh Air is receiving 39 of the two largest models of the planes — with included options to purchase 33 more.

“This will support the country’s goal of serving 330 million passengers and attracting 100 million visits by 2030,” Riyadh Air said in a news release.

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Riyadh Air is owned by the country’s sovereign wealth fund.

“The ambition here in the kingdom is huge,” CEO Tony Douglas said in an interview with CNBC. “There will be more orders for the avoidance of any doubt.”

Boeing reported the 787 group has launched more than 350 new nonstop routes around the world, including roughly 50 new routes since 2020.

Boeing shares went up by 4% on Tuesday.

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