RIYADH: Saudi Arabian budget airline flyadeal will operate an all Airbus A320 fleet in the future, it said in a statement on Sunday, months after it announced it was reconsidering a Boeing order.
The airline is to take delivery from 2021 of 30 A320neo jets that were ordered by its parent, state-owned Saudi Arabian Airlines, at the Paris Air Show in June, it said in the statement.
“This order will result in flyadeal operating an all- Airbus A320 fleet in the future,” it said.
The status of the Boeing order was not immediately clear. Flyadeal and Boeing did not immediately respond to emailed requests for comment.
Flyadeal Chief Executive Con Korfiatis said in April a decision on whether it would proceed with an order for 30 Boeing 737 MAX jets was “imminent.” It was reconsidering the order after two MAX aircraft fatally crashed in Ethiopia in March and Indonesia in October.
The order, which included additional purchasing options for 20 MAX jets, was worth $5.9 billion at list prices, according to Boeing.
The two disasters killed a total of 346 people, triggered the global grounding of the aircraft and wiped billions off Boeing’s market value.
The 737 MAX was grounded worldwide after the second crash and regulators must approve the fix and new pilot training before the jets can fly again.
Saudi airline flyadeal picks Airbus jets over grounded Boeing MAX
Saudi airline flyadeal picks Airbus jets over grounded Boeing MAX
- The airline is to take delivery from 2021 of 30 A320neo jets that were ordered by its parent at the Paris Air Show
- “This order will result in flyadeal operating an all- Airbus A320 fleet in the future,” flyadeal said
Closing Bell: Saudi main index rises to close at 10,912
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 93.86 points, or 0.87 percent, to close at 10,912.18.
The total trading turnover of the benchmark index stood at SR3.03 billion ($809 million), with 230 stocks advancing and 29 declining.
The Kingdom’s parallel market Nomu also gained 29.13 points, or 0.12 percent, to close at 23,442.91, as 43 stocks advanced and 25 retreated.
The MSCI Tadawul Index added 9.48 points, or 0.65 percent, to end the session at 1,466.52.
Arabian Shield Cooperative Insurance Co. was the best-performing stock of the day, with its share price surging 8.55 percent to SR11.94.
Other top performers included CHUBB Arabia Cooperative Insurance Co., which rose 6.33 percent to SR23.50, and BAAN Holding Group Co., whose shares climbed 6.06 percent to SR2.10.
United International Holding Co. recorded the steepest decline, falling 2.34 percent to SR146.20.
SEDCO Capital REIT Fund also saw its share price drop 2.17 percent to SR6.77, while Saudi Manpower Solutions Co. declined 1.58 percent to SR5.60.
On the corporate front, Saudi Electricity Co. announced the completion of a US dollar-denominated senior unsecured sukuk issuance under its international sukuk program, offered to eligible investors in Saudi Arabia and globally.
According to a Tadawul statement, the company completed the issuance of a three-tranche sukuk with maturities of three, six and 10 years, raising an aggregate $2.4 billion. The sukuk will be listed on the London Stock Exchange’s International Securities Market.
Saudi Electricity Co. closed the session at SR14.09, down 0.57 percent.
Najran Cement Co. said it has secured a mid-term, Shariah-compliant loan of SR50 million from Saudi National Bank to support subsidiary expansion. A bourse filing said the financing will be repaid over five years in semi-annual instalments, with a six-month grace period.
Najran Cement Co. ended the session at SR6.59, up 0.92 percent.
Almarai Co. announced its consolidated financial results for the year ended Dec. 31, 2025, reporting a net profit of SR2.45 billion, up 6.2 percent year on year.
According to a Tadawul statement, the increase was driven by higher revenue growth, disciplined cost control, an improved revenue mix and lower funding costs.
Almarai Co. closed at SR43.60, up 0.97 percent.
