Industry sources confirmed on Tuesday that Saudi budget airline flyadeal had finalised a contract to order 10 Airbus A330neo planes, marking its first expansion into wide body aircraft. The kingdom is pursuing a surge in aviation spending.
Sources said that the low-cost subsidiary Saudia’s state carrier is likely to announce an order for the upgraded A330900 variant in the next few weeks, after comparing it to Boeing’s smaller 787-9. The first jets should arrive in 2027.
Flyadeal & Airbus declined to comment.
Cirium Ascend estimates that an order for 10 A330 900s would cost USD 1.1 billion, after discounts. Airbus does not publish catalogue prices.
The sources also said that Flyadeal has negotiated the purchase rights for 10 more A330neos. A purchase rights locks in prices, without specifying delivery dates, and can be held on for longer than a standard option which includes price and delivery slots.
The deal comes after Reuters originally reported last June that Jeddah based Flyadeal was examining a order for between 10 to 20 wide-body aircraft to add new routes and carry more passengers in airport slot-constrained markets such as Dubai.
Saudi Arabia is investing billions of dollars to diversify the economy and move away from fossil-fuels.
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