Saudi Arabia’s public investment fund is nearing a deal with Boeing.New York Stock Exchange: BA) $35 billion in jet orders.
Orders are expected to be announced during the official launch of According to the new national airline on Sunday, WSJ report On Saturday, we quoted well-known people. The new airline will be called Riyadh Air.
The aircraft order is expected to include wide-body jets used on long-haul international flights, the WSJ report said. The order from Saudi Arabia was expected to include as many as 100 aircraft.
The news comes as Boeing (BA) and rival Airbus (OTCPK:EADSY) have been battling over Saudi Arabian orders for months. Bloomberg reported in late October that Saudi Arabia was in preliminary talks with Boeing and Airbus to order about 80 jets.
Last month, Air India announced orders for 470 aircraft from Boeing (BA) and Airbus (OTCPK:EADSF), marking a record deal in the commercial aviation industry. The order includes 220 Boeing Jets worth $34 billion, 190 737 Max aircraft, 20 787 Dreamliners and 10 of the company’s 777Xs.