(Bloomberg) -- Airbus SE is closing in on an order to sell dozens of narrowbody jets to Saudi Arabia’s new carrier, according to people familiar with the matter, as the kingdom pours billions of dollars into turning the country into an aviation and tourism hub.
Riyadh Air, backed by the country’s sovereign wealth fund, could announce a deal as early as Wednesday to buy Airbus A320neo family jets, the people said, asking not to be identified as the discussions are confidential.
Representatives for Airbus and Riyadh Air declined to comment.
The startup airline is adding short-haul aircraft to its fleet ahead of its planned 2025 launch, as it looks to challenge regional incumbents including Emirates and Qatar Airways. It’s part of Crown Prince Mohammed Bin Salman’s initiative to make Saudi Arabia’s economy less dependent on oil.
Last year, Riyadh Air ordered Boeing Co. 787-9 widebody jets for long-distance routes.
--With assistance from Christine Burke.
©2024 Bloomberg L.P.
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