Saudi Arabia reportedly planning massive Airbus order

Investing.com -- Saudi Arabia is preparing to order Airbus jets worth billions of dollars as the country aims to keep pace with the aviation growth seen in its Gulf neighbors, according to a Reuters report on Friday. The move is seen as a way for the kingdom to balance its suppliers in the aviation industry.

AviLease, a Saudi leasing company, is reportedly poised to place an order for Airbus A320neo jets worth billions of dollars at the upcoming Paris Airshow next month. This follows the company’s order of 30 Boeing (NYSE: BA) 737 MAX jets, which was placed during U.S. President Donald Trump’s recent visit to the region.

The exact number of aircraft, model breakdown, or value of the order is not known.

The Airbus A320neo is a popular choice for airlines due to its fuel efficiency and range capabilities. The Boeing 737 MAX, ordered by AviLease earlier this month, is a direct competitor to the A320neo.

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