Saudia raises $3bn to fund aircraft orders

The financing will cover orders for Saudi Arabian Airlines jets including more Boeing 787 Dreamliners. (Saudi Arabian Airlines)
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The financing will cover orders for Saudi Arabian Airlines jets including more Boeing 787 Dreamliners. (Saudi Arabian Airlines)
The agreements were signed with a number of Saudi banks to help fund the purchase of a further 73 aircraft. (Saudi Arabian Airlines)
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The agreements were signed with a number of Saudi banks to help fund the purchase of a further 73 aircraft. (Saudi Arabian Airlines)
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Updated 19 March 2021

Saudia raises $3bn to fund aircraft orders

Saudia raises $3bn to fund aircraft orders

Saudia has signed a financing agreement worth 11.2 billion riyals ($3 billion) to partially finance requirements for aircraft it has ordered, the state airline said on Thursday.
The amount covers the airline's aircraft financing requirements until mid-2024, helping finance the purchases of 73 aircraft, previously ordered, it said in a statement.
The agreements were signed with Al Rajhi Bank, Saudi British Bank (SABB), Arab National Bank (ANB), Samba, Bank AlJazira, and Bank Albilad, while HSBC Saudi advised on the deal, it said.
The airline has ordered Airbus A320neo, A321neo, A321XLR, and Boeing 787-10 jets.