Saudi Startup Riyadh Air Makes Waves in Jet Market
LONDON: In a bold move, Saudi startup Riyadh Air is making a splash in the jet market by purchasing dozens of Airbus and Boeing planes. The company is now gearing up to finalize a new deal involving the industry’s largest twin-aisle jets early next year, according to its CEO Tony Douglas.
Decision Time for Riyadh Air
Riyadh Air is currently considering the Boeing 777X and the Airbus A350-1000 for their new deal. The decision is expected to be made in the first or second quarters of 2025, as revealed by CEO Tony Douglas in an interview with Reuters.
Expanding Fleet
Last year, Riyadh Air placed an order for 39 Boeing 787 wide-body jets with options for an additional 33 aircraft. The startup also recently confirmed a firm order for 60 Airbus A321neo-family aircraft. CEO Tony Douglas hinted at the company’s ambitious goal of operating more than 200 aircraft in the future.
Future Plans and Growth
Douglas disclosed that Riyadh Air will begin formal discussions for a new order of large wide-body aircraft within the next two months. The airline, set to commence operations next year, is already planning for expansion and future acquisitions.
Exciting Opportunities Ahead
The A321neo, a popular single-aisle aircraft, is in high demand and is expected to be delivered between the second half of 2026 and the end of 2030. Douglas hinted at potential additional purchases, signaling a promising future for Riyadh Air.
Industry Dynamics
Industry sources revealed that the availability of A321neo aircraft was part of a complex financing deal linked to future delivery slots originally allocated to AirAsia. Airbus and AirAsia declined to comment on the specifics of the deal, describing it as a “complex multi-party transaction.”
Strategic Planning for Success
Riyadh Air, backed by Saudi Arabia’s Public Investment Fund, is swiftly becoming one of the industry’s fastest-growing startups. CEO Tony Douglas emphasized the strategic use of A321neo aircraft to open new routes and optimize flight operations for maximum efficiency.
Looking Ahead
Riyadh Air has yet to decide on the specific version of the A321neo to acquire, but the company is likely to include long-distance models in its fleet. The startup is poised for success as it navigates the competitive landscape of the aviation industry.