Riyadh Air, the Saudi airline set to launch operations next year, has announced a SAR5 billion ($1.3 billion) credit facility secured through a syndicate of banks. This announcement coincided with the airline's order of 60 narrow-body Airbus A321neo aircraft, marking a significant step in its expansion plans.
Riyadh Air has secured a SAR5 billion ($1.3 billion) credit facility through an agreement with eight banks, supporting its ambitious growth plans. As part of this expansion, the airline has ordered 60 Airbus A321neo aircraft to bolster its fleet. Additionally, Riyadh Air is driving efforts to develop a robust booking platform as it prepares for its upcoming launch.
The SAR5 billion ($1.3 billion) credit facility was arranged with eight major financial institutions: Arab National Bank, Al Rajhi Bank, Gulf International Bank, Emirates NBD, Riyad Bank, Banque Saudi Fransi, Saudi Awwal Bank, and Saudi National Bank.
In preparation for its operational launch in the summer of 2025, Riyadh Air is expanding its fleet, recently signing an order for 60 Airbus A321neo narrow-body aircraft. The agreement was made during the eighth Future Investment Initiative (FII) conference held in Riyadh.
