Riyadh Air has placed an order for 60 Airbus A321 Neo narrow-body aircraft in a long-anticipated deal as it builds up its fleet and prepares for its debut flight by mid-2025.
Tony Douglas, chief executive of Riyadh Air, and Benoit de Saint-Exupery, executive vice president for sales at Airbus’s commercial aircraft business, signed an agreement confirming the airline’s second aircraft during the Future Investment Initiative summit in Riyadh on Wednesday.
“This deal underlines the airline’s ambitious intentions in advance of next year’s launch, as it builds a comprehensive international network and establishes Riyadh as a major strategic global aviation hub,” Yasir Al Rumayyan, governor of the Public Investment Fund (PIF) and chairman of PIF-backed Riyadh Air, said.
Riyadh Air placed its first aircraft order in March last year when it signed an agreement for 39 Boeing 787 wide-body planes, with the option for 33 more, to handle long-haul flights.
The new deal for 60 narrow-bodies, along with the existing Boeing order including options, has taken the start-up's order book to a total of 132 aircraft to drive its growth plans.
Riyadh Air plans to launch two new routes per month over the next five years, a fast pace designed to help the airline reach its goal of 100 destinations by 2030.
In September, The National reported that the Saudi start-up would announce its single-aisle jet order by the end of 2024.
“This deal strongly reinforces the positive economic impact of Saudi Arabia’s newest airline on both a global and local scale to facilitate the fast-growing Saudi aviation ecosystem,” Mr Douglas, said. Riyadh Air will start taking delivery of the A321 Neos in the second half of 2026, according to a company spokesperson.
The A321 Neos are powered by CFM Leap engines or Pratt and Whitney's PW1100G-JM geared turbofan. A decision regarding the engine-maker is yet to be made, and a competitive tender will be issued.
More than 6,700 A321 Neos have been ordered by more than 90 airlines across the world, according to Airbus.
Riyadh Air is considering next July for its first flight during the peak travel summer season and is “working closely” with Boeing and other suppliers on a specific start date, Vincent Coste, its chief commercial officer, told The National in September.
The Saudi start-up is also considering models including the Boeing 777X or more 787s and Airbus A350s amid talks with both manufacturers for a second wide-body aircraft order.
“We are starting to work beyond 2030 because a lot of events, including the Expo 2030 and the World Cup, will be taking place in Saudi Arabia,” Mr Coste said at the time.
Riyadh Air, which has announced partnerships with major airlines including Delta, Singapore Airlines, Turkish Airlines, Air China and China Eastern to help build its route network, is also considering tie-ups with an airline in the Indian subcontinent and a carrier in western Europe.
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%3Cp%3EAverage%20amount%20of%20biofuel%20produced%20at%20DIC%20factory%20every%20month%3A%20%3Cstrong%3EApproximately%20106%2C000%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EAmount%20of%20biofuel%20produced%20from%201%20litre%20of%20used%20cooking%20oil%3A%20%3Cstrong%3E920ml%20(92%25)%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3ETime%20required%20for%20one%20full%20cycle%20of%20production%20from%20used%20cooking%20oil%20to%20biofuel%3A%20%3Cstrong%3EOne%20day%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EEnergy%20requirements%20for%20one%20cycle%20of%20production%20from%201%2C000%20litres%20of%20used%20cooking%20oil%3A%3Cbr%3E%3Cstrong%3E%E2%96%AA%20Electricity%20-%201.1904%20units%3Cbr%3E%E2%96%AA%20Water-%2031%20litres%3Cbr%3E%E2%96%AA%20Diesel%20%E2%80%93%2026.275%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Background: Chemical Weapons
Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
What is cyberbullying?
Cyberbullying or online bullying could take many forms such as sending unkind or rude messages to someone, socially isolating people from groups, sharing embarrassing pictures of them, or spreading rumors about them.
Cyberbullying can take place on various platforms such as messages, on social media, on group chats, or games.
Parents should watch out for behavioural changes in their children.
When children are being bullied they they may be feel embarrassed and isolated, so parents should watch out for signs of signs of depression and anxiety
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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