Boeing expands Riyadh Air order with 39 jets
- Boeing (NYSE:BA) received an order from Riyadh Air for 39 additional widebody jets, including 28 options and 11 new aircraft.
- The Boeing share price traded down at $214.03 following the commercial aviation announcement.
- Riyadh Air stated the fleet expansion is expected to support Saudi Vision 2030 by driving job creation and non-oil economic growth.
Boeing (NYSE:BA) announced that Riyadh Air will exercise options for 28 additional 787 Dreamliner aircraft and purchase 11 previously unidentified widebody jets.
The Saudi carrier will convert 20 of its existing options to the larger 787-10 variant from its original 2023 agreement.
Riyadh Air stated that this fleet expansion is expected to support Saudi Vision 2030 by driving job creation and non-oil economic growth.
The transaction will bring the airline's firm 787 order total to 67 aircraft once the remaining 17 airplanes are finalized.
Following the announcement, Boeing share price was down at $214.03 as the manufacturer solidified its commercial aviation backlog.
Riyadh Air currently operates six 787-9 aircraft serving six cities across its initial operational network.
The airline plans to scale its commercial operations to serve over 100 global destinations by 2030.
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