PIF in talks with Boeing, Airbus to buy 80 jets: Report

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The Public Investment Fund (PIF) is in talks with Boeing Co. and Airbus SE to order for about 80 jets, the first aircraft purchases for a new national airline, Bloomberg reported, citing sources with knowledge of the matter.

The Kingdom’s sovereign wealth fund is looking to buy about 40 planes and take out purchase options for a similar number. The requirement includes single-aisle aircraft and larger wide-body models able to fly long distances.

It is not clear whether the fleet purchase could be split between the two manufacturers, the sources added.

Yasser Al-Rumayyan, Governor of the PIF, earlier expected that the first flight of the fund's new airlines to begin in 2024, adding that the airline's aircraft fleet model will be limited to one or two at most, Argaam reported.