Saudi Arabia to acquire 4 Airbus A330 MRTTs to boost air capabilities

The A330 MRTT is a new-generation tanker and transport aircraft, holding a 90 percent market share globally outside the US. Airbus
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Updated 10 July 2024
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Saudi Arabia to acquire 4 Airbus A330 MRTTs to boost air capabilities

RIYADH: Saudi Arabia is set to bolster its air capabilities with four additional Airbus A330 MRTTs, aimed at enhancing the Royal Saudi Air Force’s critical refueling and transport operations. 

The initial Multi Role Tanker Transport aircraft from the order will undergo modification starting in early 2026 to fit its intended role, with all four expected to be operational by 2027, the company said in a press release. 

This aligns with the Kingdom’s goal of strengthening its defense sector, emphasizing localization as a top priority, with Saudi Arabia targeting to domesticate 50 percent of its defense spending by 2030. 

Saudi Arabia’s aviation sector is also expanding significantly, supported by investments worth billions of dollars under its Vision 2030 plan aimed at diversifying the economy away from fossil fuels and boosting the private sector.  

“This is the third contract signed by Saudi Arabia for the A330 MRTT, making the RSAF one of the largest MRTT operators in the world,” said Jean-Brice Dumont, head of air power at Airbus Defense and Space. 

Additionally, the contract includes a logistics support package covering spare parts, training services, and service support for the four new aircraft. 

The A330 MRTT is a new-generation tanker and transport aircraft, holding a 90 percent market share globally outside the US, with 82 orders from 15 countries across Europe, Asia, the Americas, and Oceania. 

All RSAF A330 MRTTs feature hose and drogue pods, a boom system, and refueling receptacles that enable refueling from boom-equipped tankers. 

In a post on X, Walid Abukhaled, CEO of SAMI, said: “This agreement signed by the Ministry of Defense with Airbus to transfer the technology and knowledge of ‘Airbus A330 MRTT,’ the aerial refueling transport aircraft, to the Kingdom through our joint venture, SAMIAirbus, is a step-in support of our efforts to improve the Saudi defense industries and achieve Saudi Vision2030’s objectives to localize our defense spending.”  

Airbus entered into an industrial participation agreement with the General Authority for Military Industries in January, supporting Vision 2030’s goal of diversifying the economy through regional industrial development. 

This agreement also includes technology transfer and knowledge sharing of the RSAF A330 MRTT to local firms. SAAMS, a joint venture of Saudi Arabian Military Industries and Airbus, will lead local industrialization efforts, the release added. 

In February, during the World Defense Show in Riyadh, Saudi Arabia’s Ministry of Defense signed 17 contracts and two memorandums of understanding with local and global companies aimed at enhancing the Kingdom’s armed forces’ military readiness, strengthening their capabilities, and improving combat efficiency.


Closing Bell: Saudi main index closes in green at 10,917 

Updated 26 min 5 sec ago
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Closing Bell: Saudi main index closes in green at 10,917 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 4.86 points, or 0.04 percent, to close at 10,917.04. 

The total trading turnover of the benchmark index was SR3.95 billion ($1.05 billion), as 102 of the listed stocks advanced, while 147 retreated. 

The MSCI Tadawul Index increased, up 0.54 points, or 0.04 percent, to close at 1,467.06. 

The Kingdom’s parallel market Nomu lost 85.41 points, or 0.36 percent, to close at 23,357.50. This comes as 19 of the listed stocks advanced, while 46 retreated. 

The best-performing stock was Tourism Enterprise Co., with its share price surging by 10 percent to SR13.53. 

Other top performers included Al Yamamah Steel Industries Co., which saw its share price rise by 8.64 percent to SR39.22, and Anaam International Holding Group, which saw a 4.05 percent increase to SR12.59. 

Alramz Real Estate Co. saw its share price rising by 3.95 percent to close at SR61.85, while Umm Al Qura for Development and Construction Co. closed at SR18.08, marking a 3.67 percent increase in share price. 

On the downside, the worst performer of the day was Saudi Industrial Export Co., whose share price fell by 3.72 percent to SR2.59. 

ACWA Power Co. saw its share price fall 3.54 percent to SR177.20, while Naseej International Trading Co. declined 3.08 percent to SR29.56. 

Moreover, the share price of Rabigh Refining and Petrochemical Co. dropped 2.95 percent to close at SR6.57, while Nice One Beauty Digital Marketing Co. saw its share price dropping 2.65 percent to SR17.97. 

On the announcement front, Alinma Capital has declared a cash dividend distribution totaling SR6.55 million for unitholders of the Alinma Saudi Government Sukuk ETF Fund.  

The dividend, covering the period from July to December, amounts to SR0.162 per unit and represents approximately 1.56 percent of the fund’s net asset value as of Jan. 15.  

Its share price closed at SR10.42 on the main market, marking a 0.1 percent increase. 

Also, Itmam Consultancy Co. has been awarded a significant project by the Digital Government Authority to develop digital investment skills within the public sector.  

The contract, officially granted on Jan. 19, is valued at more than 5 percent of the company’s total 2024 revenue.  

According to a statement, the program aims to equip government employees with the expertise needed to enhance digital government investment efficiency, focusing on software license development aligned with legal and technical standards.  

Its share price remained unchanged on Nomu at SR16.40.