Saudi Arabia spends $15bn on Airbus jets in race to dominate Gulf rivals

Saudi Arabia has ordered 105 Airbus planes worth $15bn (£12bn) at list prices as the country seeks to establish itself as a major player in global air travel. The A320 neo-series single-aisle planes will be split between state-owned Saudia and its low-cost subsidiary Flyadeal, according to a statement released on Monday. The order marks the latest step in Saudi Arabia’s efforts to greatly enlarge its airline sector as part of the Vision 2030 economic diversification plan. The strategy seeks to reduce the country’s reliance on oil exports by pouring investment into projects including a new airport, tourist-friendly attractions including museums, marine life centres and an opera house, and urban developments such as the $500bn Neom “smart city” in the far north-east. The plan to bolster the country’s standing in aviation is intended to cater to an anticipated influx of visitors, but also represents an attempt to replicate the success of Dubai and Qatar in establishing themselves as global hubs for air travel, exploiting the Middle East’s position as a crossroads for flights between Asia, Africa, Europe and North America. As part of that push, Saudi Arabia has established a second flag carrier, Riyadh Air, taking its name from the national...

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