Saudi carrier to buy $2b of Airbus, planes

DUBAI: Saudi Arabia’s National Air Services said on Tuesday it will order aircraft from Airbus, Gulfstream Inc and Raytheon Inc. as part of a $2 billion purchasing programme for 75 planes.

National Air Services, which started operations in 1999 offering ownership stakes in business jets, will buy the aircraft before 2010 as part of a plan to create a 100-strong fleet, it said in a statement. It did not give more details about the purchasing programme.

“The overall growth of Middle East aviation and travel market has served as the catalyst for our significant expansion plans,” Ayed Al Jeaid, the company’s chairman, was quoted as saying in the statement.

Gulf Arab governments such as Dubai, Qatar and Abu Dhabi have capitalised on record oil revenue after a tripling in prices since 2001 to start or expand their carriers, spurring orders for Airbus and Boeing Co. reuters