Saudi Arabia Announces New Partnership with Boeing
Washington, DC: The Kingdom of Saudi Arabia today announced two agreements to purchase up to 121 Boeing 787 Dreamliners for both the new Saudi Arabian airline, Riyadh Air, and the Saudi Arabian flag carrier, SAUDIA. Together, the agreements are the fifth largest commercial order by value in Boeing’s history.
These agreements are another demonstration of the strength of the Kingdom’s commercial ties with the United States and American companies, rooted in the strong and deep relationship that have contributed to the security and prosperity of both nations.
“The enduring strategic partnership between both countries is enhanced by a common vision to expand cooperation into different fields, like transportation, which opens up many opportunities for both countries” said Saudi Arabia’s Ambassador to the United States HRH Princess Reema bint Bandar Al-Saud. “Today’s announcement is that common vision in action.”
“Not long after the founding of the modern Saudi state, it was American companies that helped build our young economy,” stated the Ambassador. “And American companies will continue to be an important part of our bold future,” she continued.
The launch of a new airline and the expansion of SAUDIA is part of the Kingdom’s national strategy to diversify its economy, lead new key sectors, and become a global hub for transportation, tourism, cargo and logistics.
“This announcement is part of the Vision2030 agenda, driven by Crown Prince Mohammed bin Salman's vision for a vibrant and diversified Saudi economy. It is a blueprint for economic and social reform that is opening Saudi Arabia up to the world,” said the Ambassador.
Riyadh Air, a new Saudi airline owned by the Kingdom's Public Investment Fund (PIF) is expected to contribute $20 billion in non-oil GDP and create over 200,000 jobs in Saudi Arabia, directly and indirectly.
“Under the Crown Prince’s leadership, Saudi Arabia is truly taking flight…” said the Ambassador. “Soaring to heights that few thought possible even a few years ago by opening up to tourism, expanding trade and investment, and making the entire Middle East region more prosperous, peaceful, and secure. The agreements reached today will also contribute to the Kingdom’s transportation and tourism goals of serving 330 million passengers and attracting 100 million visitors by 2030.”