Riyadh Air, Saudi Arabia's newest airline backed by the kingdom's sovereign wealth fund, is poised to make a substantial order for narrow-body aircraft from aviation giants Airbus and Boeing in the coming weeks, according to the CEO, Tony Douglas. The announcement comes after the airline concluded its narrow-body campaign, having reviewed proposals from both manufacturers.
In a statement made on Monday at the Dubai Airshow, Douglas stated, "The process has concluded. In a number of weeks' time, we will reveal a sizable order of narrow-body aircraft." While the CEO did not disclose the specific number of aircraft or the timeframe for the order, industry observers anticipate a significant move given Riyadh Air's prominence in the region.
Riyadh Air has already made provisional commitments for 72 Boeing 787 widebody jets, indicating its ambitious plans for expansion and market presence. The airline, entering a competitive Gulf aviation market alongside established carriers such as Emirates, Qatar Airways, and Etihad, is strategically positioning itself for future growth.
CEO Tony Douglas, formerly at the helm of Abu Dhabi's Etihad Airways, emphasized Riyadh Air's commitment to expanding its fleet, with plans to operate approximately 170 aircraft by 2030. The airline has made significant strides in staffing, having hired 150 personnel, including 20 pilots, to support its operations.
Additionally, Riyadh Air plans to enter the debt market in the upcoming year, with a funding strategy that may encompass both traditional debt instruments and sustainable securities. The move aligns with the airline's vision for financial sustainability as it navigates the dynamic landscape of the aviation industry.
As Riyadh Air prepares to make its mark in the Gulf aviation sector, the impending order for narrow-body aircraft signals the airline's determination to establish itself as a key player in the region, contributing to the ongoing evolution of the Middle East's aviation landscape. Industry stakeholders eagerly await further details about the magnitude and specifics of this anticipated aircraft acquisition.
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