Saudia raises $3 billion for 73 aircraft purchase

Saudi Arabia’s national carrier, Thursday said it reached deal with several partners to fund the purchase of 73 passenger planes from Airbus and Boeing.


Al Rajhi Bank, Saudi British Bank (SABB), Arab National Bank (ANB), Samba, Bank AlJazira, and Bank Albilad according to the airline agree to contribute up to $3 billion to the operation.


Early this week, a banking source who asked not to be named told Reuters that the flagship carrier was in the market to raise loans for an order of around 70 new jets.


The airline according to the source is eyeing Airbus A321 narrow-bodied jets and Boeing 777 and 787 Dreamliner wide-bodies.


The airline currently operates a fleet of 144 aircraft including A321, 777 and 787 jets while some 20 other aircraft are in storage.

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