Saudi Arabian Airlines Orders 12 Boeing Jets for $3.3 Billion

Saudi Arabian Airlines placed an order for 12 Boeing (BA) 777-300 "Extended Range" planes in a deal worth $3.3 billion.

The deal gives the Saudi carrier, which is in the process of privatization, an option for another 10 777s, Reuters reported. Saudi Arabian Airlines also ordered eight Boeing 787 Dreamliners for an unspecified price.

"Our decision to order the 777-300 ER is part of a long-term growth strategy to expand and modernize our fleet with newer, more fuel-efficient airplanes," said Khaled al-Mulhim, Director General of Saudi Arabian Airlines.

Saudi Arabian Airlines has a fleet of more than 114 planes.

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