Saudi state carrier Saudia raises $3bln to fund aircraft orders

The agreements were signed with Al Rajhi Bank, Saudi British Bank (SABB), Arab National Bank (ANB), Samba, Bank AlJazira, and Bank Albilad

  
Saudi Arabian Airlines, Saudia. Image used for illustrative purpose.

Saudi Arabian Airlines, Saudia. Image used for illustrative purpose.

SITA/Handout via Thomson Reuters Zawya

DUBAI - State-owned Saudi Arabian Airlines (Saudia) has signed a financing agreement worth 11.2 billion riyal ($3 billion) to partially finance requirements for aircraft it has ordered, the state airline said in a statement on Thursday.

The amount covers the airline's aircraft financing requirements until mid-2024, helping finance the purchases of 73 aircraft, previously ordered, it said in a statement.

The agreements were signed with Al Rajhi Bank, Saudi British Bank (SABB), Arab National Bank (ANB), Samba, Bank AlJazira, and Bank Albilad, while HSBC Saudi advised on the deal, it said.

Saudia has ordered Airbus AIR.PA A320neo, A321neo, A321XLR, and Boeing BA.N 787-10 jets. ($1 = 3.7505 riyals)

(Writing by Alexander Cornwell; editing by Jonathan Oatis) ((Alexander.Cornwell@thomsonreuters.com;))

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