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AIR - Airbus SE News Story

€103.68 0.8  0.8%

Last Trade - 16/04/21

Large Cap
Market Cap £70.40bn
Enterprise Value £74.04bn
Revenue £43.25bn
Position in Universe 13th / 847

UPDATE 1-Saudia plans to order 70 Airbus, Boeing jets -report

Tue 2nd March, 2021 7:48am
(Adds Saudia's comment, paragraph 6)
    DUBAI, March 2 (Reuters) - State-owned Saudi Arabian
Airlines (Saudia) plans to order 70 airliners from Airbus
 AIR.PA  and Boeing  BA.N , Saudi news outlet Maaal reported on
Monday, citing unidentified sources. 
    Saudia is in talks with local banks to raise 11.5 billion
riyals ($3.07 billion) to partly finance an order for Airbus
A321 narrow-bodied jets and Boeing 777 and 787 Dreamliner
wide-bodies, Maaal said.
    The report did not breakdown how many aircraft of each type
Saudia was planning to purchase. 
    A banker, speaking on the condition of anonymity, told
Reuters that Saudia was in the market to raise debt for an order
of around 70 new jets. 
    The airline's fleet of 144 aircraft already includes A321,
777 and 787 jets.
    Saudia said it "has no further information on this matter at
this time". An Airbus spokeswoman said the planemaker was always
in talks with its customers on their fleet requirements,
declining comment further. Boeing declined to comment.
    Company documents reviewed by Reuters showed that the
airline received at least $7 billion in direct payments and
other financial support in 2019 and 2020 from the government, as
the carrier struggles with losses and the impact of the
    ($1 = 3.7505 riyals)

 (Reporting by Marwa Rashad in London, Davide Barbuscia in Dubai
and Alexander Cornwell in Doha; Writing by Yousef Saba)
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