According to Saudi Arabian news outlet Maaal, Saudi Arabian Airlines (Saudia) plans on ordering 70 airliners from Airbus and Boeing.
The report states, Saudia is negotiating with local banks to raise $3.07 billion (11.5 billion riyals) to partly finance an order for Airbus A321 narrow-bodied jets and Boeing 777 and 787 Dreamliner wide-bodies.
Maal did not provide a company-wise breakup of the type of aircraft, Saudia was planning to purchase.
According to a banker who spoke on the condition of anonymity, Saudia plans to raise debt for an order of around 70 new jets.
Saudia’s fleet of 144 aircraft includes A321, 777 and 787 jets.
Saudia did not immediately respond to requests for comments.
A spokeswoman for Airbus said, the planemaker was always in talks with its customers on their fleet requirements, declining comment further.
Boeing declined to comment.
According to company documents, the airline received around $7 billion in direct payments and other financial support in 2019 and 2020 from the Saudi government after the carrier struggled with losses stemming from the coronavirus-induced COVID-19 pandemic.
($1 = 3.7505 riyals)