Tuesday, May 21, 2024 Saudi Arabia’s $15 billion Airbus investment aims to elevate its global aviation status, supporting Vision 2030. Saudi Arabia has committed to purchasing 105 Airbus aircraft valued at $15 billion, a move signaling the nation’s intent to become a significant force in the international aviation arena. The aircraft, part of the A320 neo-series, will be distributed between the national carrier, Saudia, and its budget airline affiliate, Flyadeal, as detailed in a recent announcement.
This acquisition is a key component of Saudi Arabia’s ambitious Vision 2030 initiative, which aims to diversify the economy beyond oil by investing in expansive projects such as a new airport, cultural venues like museums and an opera house, and the $500 billion Neom smart city project in the northeastern region. The aviation expansion is designed to not only accommodate a growing number of tourists but also to position Saudi Arabia alongside Dubai and Qatar as a pivotal hub for international flights connecting Asia, Africa, Europe, and North America. The latest report from the General Authority of Civil Aviation highlights that Saudi Arabia’s civil aviation industry has made a substantial economic impact, injecting $53 billion into the national economy.
This total comprises $20.8 billion from direct aviation-related activities and an additional $32.2 billion from tourism.
The sector supports 241,000 jobs in aviation and another 717,000 in tourism. In 2023, Saudi Arabia a.
