Riyadh Air buys 25 Airbus A250-1000 jets at Paris Airshow
Saudi startup Riyadh Air signed a deal at the Paris Airshow on Monday to buy 25 Airbus A350-1000 jets, the plane-maker said.
The deal, announced shortly after Saudi leasing company AviLease placed an order for Airbus passenger and freighter jets, also includes purchase rights for another 25 planes, Airbus said.
Airbus does not publish catalogue prices but the firm part of the Riyadh Air deal is worth around $4.6 billion after typical airline discounts, according to Cirium Ascend estimates.
Also read: Riyadh Air Orders Up to 50 Airbus A350-1000 Jets to Ahead of 2025 Launch
4 minutes ago
10 minutes ago
15 hours ago
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Insider
a day ago
- Gulf Insider
UAE's Dollar-Millionaires: Another 13,000 Join Resident Base In 2024, Says UBS
An additional 13,000 made it to the ranks of UAE's dollar millionaire resident base in 2024, according to the latest UBS 'Global wealth Report 2025', which is an increase of 5.8% from the year before. A good number of these newly created millionaire base in the UAE came about from re-locations, as has been the case for four years now. 'This year there has been some significant movement in the number of millionaires in many of parts of the world, both upwards and downwards,' according to the Swiss bank's findings. 'In 2024, Turkey stands out from the crowd thanks to an 8.4% increase in its number of dollar millionaires over 2023, equivalent to a boost of roughly 7,000 people in a single year. The UAE (had) a rise of 5.8% in millionaire numbers, thanks to approximately 13,000 new entrants in this category.' 'Having looked at long-term trends, we concluded that wealth is far from static.' In the UAE, that's been the case. Banking and property market sources talk about the multi-million dollar deals that have been shaping the UAE investment landscape. The property firm Knight Frank in a recent report points to the influx of Saudi, Indian, Chinese and UK high networth individuals committing sizable investments in the UAE. At some locations such as Jumeira Bay island, the deal sizes are getting bigger. There are an estimated 240,343 dollar-millionaires in the UAE with a combined $785 million. Saudi Arabia, according to UBS, has 339,029 dollar-millionaires, with a combined wealth holdings of $958.3 million. 'In an era marked by rapid economic shifts, increasing volatility and unprecedented market developments, understanding the trends and drivers of wealth creation is more crucial than ever,' said Robert Karofsky, co-President of UBS Global Wealth Management. In the UAE, around 62% of gross wealth is allocated to financial assets, and it's almost 58% in Saudi Arabia. Assets such as real estate as well as land make up about 48% of what the super-rich spend on in both the prime GCC markets. (Debt levels among these investors is close to 9% in the UAE and 'only 5.7% in Saudi Arabia, one of the lowest levels in our sample of 56 countries', according to UBS.) Niels Zilkens, Head Wealth Management Middle East at UBS Global Wealth Management, said: 'Saudi Arabia and the UAE are not only seeing rising millionaire numbers, but also meaningful gains in median wealth – especially in the UAE, where it rose over 23% since 2020. 'With a combined $122 billion in expected wealth transfers ahead, both markets are entering a pivotal phase of generational transition.'
Bahrain This Week
2 days ago
- Bahrain This Week
BAC and Texel Air Sign MOU at Paris Airshow 2025
His Excellency Dr. Shaikh Abdullah bin Ahmed Al Khalifa, Minister of Transportation and Telecommunications, reaffirmed the Kingdom of Bahrain's steadfast commitment to advancing its ambitious strategy for the development of the civil aviation sector and the enhancement of related infrastructure, in alignment with the highest international standards. His Excellency emphasized that Aircraft Maintenance, Repair, and Overhaul (MRO) is a key pillar of this strategy, given the sector's promising investment potential and its vital role in supporting Bahrain's comprehensive aviation ecosystem. He further noted that the expansion of advanced maintenance services at Bahrain International Airport strengthens the Kingdom's ability to attract high-quality investments and contributes meaningfully to the national economic diversification agenda. Dr. Shaikh Abdullah also highlighted the partnership with Texel Air as an exemplary model of public-private sector collaboration in developing aviation services—reinforcing Bahrain's position as a flexible and efficient regional logistics hub. This statement follows the formal signing of a Memorandum of Understanding (MoU) between Bahrain Airport Company (BAC), the operator and managing body of Bahrain International Airport (BIA), and Texel Air, a specialist in air cargo and aircraft maintenance. The MoU was signed during the Paris Air Show, held from June 16 to 22, 2025, and outlines plans for a major expansion of aircraft MRO hangar capabilities at the airport. The signing ceremony took place in the presence of His Excellency Dr. Shaikh Abdullah bin Ahmed Al Khalifa, and was officiated by Mr. Jeffrey Goh, Chief Executive Officer of Gulf Air Group on behalf of BAC, and George Chisholm, Executive Board Member of Texel Air. Under the terms of the MoU, Texel Air's operations at Bahrain International Airport will be expanded through the development of a new 7,000-square-meter Code C aircraft hangar, along with an additional 10,000 square meters of apron, maneuvering and taxiway area. The new facility is designed to accommodate up to three Code C aircraft or multiple ultra long-range business jets in a climate-controlled environment, providing specialized parking and maintenance conditions tailored to high-value private and corporate aviation. This substantial infrastructure investment will significantly elevate Bahrain International Airport's capacity and standing as a premier regional aviation hub. The Chairman of Gulf Air Group, Mr. Khalid Hussain Taqi, stated, 'This MoU embodies the Group's long-term vision of creating valuable and sustainable opportunities for private sector partners and investors. This initiative will undoubtedly contribute to supporting the national economy through strategic investment in the Kingdom's aviation infrastructure. Our partnership with Texel Air is crucial. It stands as a truly successful model of effective collaboration. As a Bahraini company with a prominent regional impact, Texel Air's growth trajectory at Bahrain International Airport perfectly aligns with the Group's vision to foster a flexible and attractive environment for air cargo and aircraft maintenance and repair activities.' Mr. Jeffrey Goh, Chief Executive Officer of Gulf Air Group commented, 'BAC is committed to supporting investors at Bahrain International Airport and enabling their commercial expansion and business growth, a core part of BAC's strategy to enhance private aviation operation. Supporting the logistics sector is an urgent necessity for diversifying airport services and solidifying the Kingdom of Bahrain's position as a regional aviation hub. Texel Air is a strategic partner that actively contributes to the air cargo and aviation ecosystem at Bahrain International Airport. Significantly, this expansion reflects investor confidence in the airport's capability to support various services and operations. George Chisholm, Executive Board Member of Texel Air Said, 'This investment reflects Texel Air's long-term commitment to the Kingdom of Bahrain as a strategic base for both commercial and corporate aviation. We're proud to work alongside BAC to build infrastructure that meets the evolving needs of the region.'
Daily Tribune
2 days ago
- Daily Tribune
EGYPTAIR Expands Fleet with Order for Six Additional Airbus A350-900 Aircraft
TDT | Manama EGYPTAIR has announced a firm order for six more Airbus A350-900 aircraft during the Paris Air Show 2025, reinforcing its strategy to modernize its long-haul fleet and meet rising global travel demand. This new order brings the airline's total A350-900 commitment to 16 aircraft. Captain Ahmed Adel, Chairman and CEO of EGYPTAIR, said the move aligns with the carrier's growth plans and sustainability objectives: 'We are continuously working to modernise our fleet and deliver a more comfortable and optimised travel experience. This collaboration with Airbus builds on a long-standing relationship that spans decades. The A350 will support our network expansion over the next five years and contribute to Egypt's broader efforts to promote more sustainable air transport.' The A350-900, part of Airbus' newest widebody family, is renowned for its fuel efficiency and range. It can fly up to 9,700 nautical miles (18,000 km) non-stop while consuming 25% less fuel compared to previous-generation aircraft, translating to significantly lower CO₂ emissions. Each aircraft will feature Airbus' next-generation Airspace cabin with wide seats, high ceilings, and soothing ambient lighting designed for passenger comfort on long-haul journeys. Benoît de Saint-Exupéry, Executive Vice President Sales at Airbus, welcomed the deepening relationship: 'This is the second time EGYPTAIR has placed an order for the A350, and it reflects the value and confidence the airline places in the aircraft. We look forward to supporting EGYPTAIR's success, growth, and decarbonisation ambitions.' The A350 is currently the most advanced widebody aircraft in production. It is certified to fly with up to 50% Sustainable Aviation Fuel (SAF) today, and Airbus aims to make its entire fleet 100% SAF-compatible by 2030. As of May 2025, Airbus has received over 1,390 orders for the A350 family from 60 customers worldwide. This strategic move places EGYPTAIR among leading global carriers investing in next-generation aircraft to offer passengers a superior travel experience while advancing environmental sustainability.
