Saudi Arabia’s Saudia Group has confirmed the purchase of 105 Airbus planes, marking the largest aircraft deal in the nation’s history. Announced on May 20, 2024, during the Future Aviation Forum in Riyadh, the deal is valued at $19 billion.
Saudia airline will receive 54 A321neo aircraft, while its budget subsidiary flyadeal will acquire 12 A320neo and 39 A321neo planes. This landmark agreement signifies a major step for the Saudi aviation sector and the broader MENA region.
Alongside this acquisition, Saudi authorities unveiled plans for a new airport in Riyadh with a capacity of 120 million passengers annually, as well as an extensive expansion of Jeddah’s airport, aiming to increase its capacity from 43 million passengers in 2023 to 114 million.
Currently, Saudia operates a fleet of 144 aircraft, with flyadeal managing 32. Deliveries of the new planes will begin in 2026 and continue until 2032.
Crown Prince Mohammed bin Salman’s Vision 2030, which seeks to diversify the economy away from oil, includes ambitious aviation targets to triple annual passenger traffic to 330 million by the decade’s end.
Aviation’s contribution to the Saudi economy was $20 billion in 2023, supporting 241,000 jobs and an additional 717,000 in tourism. This significant aircraft deal and the associated expansion projects are expected to create more jobs, enhance local content, and further boost the national economy.
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