Saudia secures SR7bn loan to finance growth, fleet expansion

February 22, 2014 1:22 am

Khalid al-Molhem, director-general of Saudi Arabian Airlines (Saudia) has said the carrier has secured a SR7bn ($1.9bn) loan from a consortium of banks to fund its plane deliveries and growth plans, Reuters has reported. The loan will finance the delivery of the next 17 aircraft on order for the airline, al-Molhem. The carrier has ordered 90 new jets from plane makers Boeing and Airbus, of which 72 have been delivered so far. The remaining will be delivered over the next three years.