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Saudia

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"Saudi Wealth Fund in Talks to Acquire National Airline Saudia for Tourism Boost"

Originally Published 1 year ago — by CNBC

Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), is reportedly in talks to acquire the national airline Saudia as part of its strategy to invest in tourism and transport assets and diversify the kingdom's economy away from oil. The potential acquisition could lead to increased efficiency and profitability for the airline, with the PIF considering options such as privatization or merging Saudia with Riyadh Air, another airline it owns. Talks are in early stages and the valuation of the airline is yet to be determined.

business business airline-industry business investment saudi-arabia saudia sovereign-wealth-fund

Boeing secures major Dreamliner deals with Saudi airlines.

Originally Published 2 years ago — by CNBC

Boeing has agreed to sell 78 of its 787 Dreamliner planes to two Saudi Arabian airlines, Saudia and Riyadh Air, with options for more. The deal is worth almost $37bn, according to the White House. The sale shows a pickup in demand for wide-body aircraft, which are used for long-distance flights. Riyadh Air is owned by the country's sovereign wealth fund and will be helmed by Tony Douglas as CEO.

business business boeing business dreamliner riyadh-air saudi-arabia saudia