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Riyadh Air CEO to Reveal ‘Big Aircraft Order’ Today
30.10.2024 - 10:11 / skift.com / Tony Douglas / Gordon Smith
The chief executive of Riyadh Air will announce a major plane order later on Wednesday. Speaking on CNN’s Quest Means Business on Tuesday night, Tony Douglas dropped his biggest hints yet about the highly anticipated deal.
He confirmed that “another big aircraft order” will be revealed, adding that he is “delighted” with the agreement. While acknowledging that the deal is for single-aisle planes, the CEO would not be drawn on a manufacturer. Both Airbus and Boeing products are in contention.
CNN’s Richard Quest asked if the order is for “dozens”, or “high dozens” of planes. The airline executive replied with an animal metaphor to offer a broad steer without giving the game away.
“If you want to be a bear, be a grizzly. [There’s] no point in being a koala – even though they are very cute and very cuddly. Think of a number much bigger than that,” teased Douglas.
Pressed on if this meant a three-digit number, Douglas replied: “I probably wouldn’t go quite that far.”
In 2023, Riyadh Air placed its first aircraft order. The deal covered 39 Boeing 787-9 Dreamliners, with options for a further 33. An additional widebody contract is expected in 2025 as momentum behind the airline gathers pace. Wednesday’s announcement will give the clearest indication yet about the future fleet mix of the airline.
Riyadh Air is wholly owned by Saudi’s Public Investment Fund, and forms part of an ambitious project to boost tourism to the country. The carrier has yet to start revenue service, with its first flights due in 2025.
Delays to aircraft deliveries have affected airlines around the world. The problem is particularly acute for start-up operators such as Riyadh Air that are relying on new planes to grow. More established airlines can often continue flying older generation aircraft until new jets arrive – this isn’t an option for brand-new firms – particularly in a tight leasing environment.
“We’ll definitely be in the air next year. Obviously we’re working really hard with the whole of our supply chain – they’re working really hard with us. We’re a start-up with big ambition, and we’re confident that next year will be the special year for Riyadh Air,” Douglas told CNN.
He added that the airline is “well on the way” to attaining its Air Operator Certificate (AOC). This is a mandatory document issued by regulators following intensive checks and testing of a company’s processes and procedures. Riyadh Air completed certification test flights at the start of October.
Wednesday’s announcement will take place at the FII Institute conference in Riyadh. The carrier is also expected to reveal major new digital-first initiatives, which Douglas described as “Version 1.0 of what a digital native airline looks like.”
Speaking
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