Boeing Strikes Fifth-Largest Commercial Order With Saudi Arabian Airlines

Boeing Co (NYSE: BA) has secured orders for 787 Dreamliner jets with two Saudi Arabian airlines.
  • Boeing Co (NYSE:BA) has secured orders for 787 Dreamliner jets with two Saudi Arabian airlines.
  • Riyadh Air, an airline owned by Saudi Arabia’s Public Investment Fund (PIF), will purchase 39 787-9s, with options for an additional 33 787-9s.
  • Concurrently, state-owned Saudia Airlines will also buy 39 jets, with an option for another ten jets.
  • In total, Saudi Arabian carriers announced their intent to purchase up to 121 787 Dreamliners in Boeing’s fifth-largest commercial order by value.
  • Also Read: Boeing Reportedly On Brink Of $35B Airline Deal With Saudi Arabia.
  • The deals are part of an effort by Saudi Arabia to become a global aviation hub.
  • This will support the country’s goal of serving 330 million passengers and attracting 100 million visitors annually by 2030. 
  • Related: Boeing Analysts Recommend Caution Following Latest 787 Production Problems.
  • Last month, Boeing suspended deliveries of its 787 Dreamliners following a new issue found in a component used near the front of the plane, the U.S. Federal Aviation Administration (FAA) said.
  • Boeing said that in reviewing certification records, it “discovered an analysis error by our supplier related to the 787 forward pressure bulkhead. We notified the FAA and have paused 787 deliveries while we complete the required analysis and documentation.”
  • Price Action: BA shares are up 4.33% at $212.18 on the last check Tuesday.
  • Photo Via Wikimedia Commons
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