Saudia backs fleet growth with new financing

Saudia Group has signed an MoU with Saudi Export-Import Bank and Crédit Agricole CIB to arrange financing for new Airbus aircraft. The fleet investment will increase Saudia’s operational capacity and strengthen its ability to connect Saudi Arabia with international markets, supporting the movement of goods across global routes.

H.E. Engr. Ibrahim Al-Omar, Director General of Saudia Group, said: “This MoU marks an important step in developing financing solutions that support Saudia Group’s growing fleet investments. This partnership will provides us with broader financing options to support our growth and expansion plans.” 

He added: “Fleet investment is a key pillar of Saudia Group’s plans, providing additional capacity to expand our network, increase operational capacity and enhance efficiency. Diversifying our financing sources and solutions also strengthens the Group’s flexibility in executing future investments and reinforces our ability to expand and connect the Kingdom with global markets.” 

The agreement brings together international financing and Saudi export credit support. Crédit Agricole CIB will structure and arrange financing for the aircraft, while Saudi EXIM will provide credit risk insurance, subject to the required procedures and final terms.

For air cargo, the fleet expansion can support greater capacity to move goods through Saudia’s international network. Additional aircraft and stronger connectivity can give the Kingdom more capacity to serve international markets and support growing trade flows.

The financing also supports Saudi Arabia’s wider focus on growing non-oil exports. Saudi EXIM said its role is to help Saudi companies access international financing and direct more global capital towards export-related activities.

Saudia will continue its fleet growth and modernisation plans, with the partners also agreeing to explore financing for future aircraft orders and fleet development programmes.

The agreement therefore creates a financing structure that can support Saudia’s continued expansion while strengthening air transport links between Saudi Arabia and global markets.