Carriers in the Middle East are set to expand its fleet with an additional 2,980 commercial jets in the next two decades, spending upwards of $765 billion on new planes, major supplier Boeing said on Monday in Dubai.
The new planes will be required to meet the strongly recovering demand for both passenger and cargo airplanes, Boeing’s managing director of commercial marketing for the Middle East and Africa region Randy Heisey said, per a report in Arabian Business.
“The Middle East region, a popular connection point for international travelers and trade, is also growing as a starting point and destination for business and leisure passengers,” he said at a press briefing in Dubai on Monday.
More than two-thirds of the estimated significant spend on new planes in the MENA region will be new deliveries, while the remaining will replace older models. Boeing also expects a 4 percent growth in passenger traffic annually – after the Covid-19 pandemic almost completely shut down the aviation business around the world.
Saudi Arabia is in the final stages of launching its multi-billion-dollar new international airline, which sources say is likely to be branded “RIA.” The Kingdom has been working on the launch for the past 12 months, with the new venture backed by Saudi Arabia’s Public Investment Fund.
Saudi Arabia has earmarked $147 billion to enhance its airport facilities to serve 330 million air travellers by 2030, expand its transport sector and boost plans to launch a new national airline alongside the established Saudia, Flynas and Flyadeal.
