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Saudi Arabia places largest ever order for Airbus planes: Here are the details

11:57 AM | 21 May, 2024
Saudi Arabia places largest ever order for Airbus planes: Here are the details

RIYADH - The government of Saudi Arabia has placed its largest-ever order for procuring narrowbody jets from the firm Airbus.

As part of the order, 105 jets would be procured from the aviation giant Airbus SE as the holy kingdom looks forward to diversifying its revenue stream.

The kingdom is procuring 93 A321neos and 12 A320neos in its largest deal in its 80-year history though the kingdom wanted more 'flying toys' but the manufacturer was unable to provide them.

The jets would become part of the 'Saudia Group' and the deal was signed in Riyadh at the Future Aviation Forum on Monday. 

As far as the timeline is concerned, the first aircraft will be delivered in the first quarter of 2026. Saudi Group Director General Ibrahim AlOmar told newsmen that this was the group's biggest investment in passenger experience.

“Saudia has ambitious operational objectives to meet growing demand. We are increasing flights and seat capacity across our existing 100-plus destinations on four continents, with plans for further expansion,” Mr AlOmar said.

Interestingly, the worth of the deal has not been disclosed but some say that it hovers around $19 billion.

The jet order will be split between Saudi Arabia's national carrier Saudia and its sister airline flyadeal. The details imply that Saudia will take delivery of 54 A321neos while flyadeal will get 12 of the smaller A320neo variant and 39 A321neo aircraft.

The deal increases Saudia Group’s Airbus order backlog to 144 A320neo aircraft, the European plane maker said.

The development comes when the kingdom, under the command of Crown Prince Mohamed bin Salman, is trying to look for non-oil revenues and is aiming to attract tourists to the country through multiple attractions including the Neom City. 

Saudi Arabia has set ambitious targets for the next seven years and it aims to transport 330 million passengers annually; the country has also launched an airline named Riyadh Air.  

Daily Pakistan Global Web Desk

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Pakistani Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 19 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 19, 2024 (Wednesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.50 for buying and 280.65 for selling.

Euro's buying rate stands at 296 and selling rate is 299 while British Pound rate is 349.7 for buying, and 353.25 for selling.

UAE Dirham AED was at 74.80 and Saudi Riyal at 72.80.

Forex Rates 

Currency Symbol Buying Selling
US Dollar USD 277.50 280.65
Euro EUR 296.00 299.00
UK Pound Sterling GBP 349.70 353.25
U.A.E Dirham AED 74.80 75.60
Saudi Riyal SAR 72.80 73.55
Australian Dollar AUD 182.00 184.00
Bahrain Dinar BHD 741.18 749.18
Canadian Dollar CAD 204.00 206.00
China Yuan CNY 38.43 38.83
Danish Krone DKK 40.18 40.58
Hong Kong Dollar HKD 35.66 36.01
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.90 1.98
Kuwaiti Dinar KWD 909.34 909.34
Malaysian Ringgit MYR 59.30 59.90
New Zealand Dollar NZD 170.79 172.79
Norwegians Krone NOK 25.97 26.27
Omani Riyal OMR 723.88 731.88
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203.65 205.65
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 311.90 314.40
Thai Bhat THB 7.58 7.73

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