Saudi sovereign wealth fund reportedly near $35 billion deal for Boeing jets

Saudi Arabia’s Public Investment Fund (PIF) is close to a deal
to order Boeing commercial jets for the fleet of a new national
airline, The Wall Street Journal reported on Saturday, citing
people familiar with the matter, Trend reports citing CNBC.

The aircraft order is valued at $35 billion, the report said,
adding that the deal could be announced as soon as Sunday during an
official launch of the national airline.

The deal includes wide-body jets which are often used for long
international flights, the report added.

In October, Saudi Arabia was in advanced negotiations to order
almost 40 A350 jets from Airbus, with Boeing also lobbying for a
slice of the kingdom’s transportation expansion, industry sources
had told Reuters.

The head of state-owned Saudi Arabian Airlines (Saudia) had then
told Reuters that it was in talks with Boeing and Airbus on orders
both for itself and a planned new carrier, RIA.

Boeing declined to comment and the Saudi PIF did not immediately
respond to a request from Reuters for comment on the report.

The deal is part of a rapid expansion by the country under a
strategy to transform the kingdom into a transport hub and promote

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