17 January 2014
Bombardier Aerospace (TSX: BBD) said that Dammam-based Al Qahtani Aviation company has signed to buy 16 CS300 aircraft with options for an additional ten CS300 jetliners.
The aircraft will be operated by SaudiGulf Airlines, a newly launched national carrier from the Kingdom of Saudi Arabia. Al Qahtani Aviation company and SaudiGulf Airlines are both owned by Abdel Hadi Abdullah Al-Qahtani & Sons Group of Companies (Tariq Al-Qahtani & Bros).
Based on the list price of the aircraft, the order is valued at approximately USD1.21bn. Should all 10 options be exercised, the value of the contract would increase to USD1.99bn.
Based out of King Fahd International Airport, in Dammam, Kingdom of Saudi Arabia, SaudiGulf Airlines will operate domestic and international services from different airports in the Kingdom of Saudi Arabia. The international route network will focus on main capitals in the Middle East and Gulf as well as the Indian subcontinent.
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