Saudi Arabia places order for up to 121 planes from Boeing

Two Saudi Arabian airlines said Tuesday they will order 78 jetliners from Boeing and take options to buy 43 more in a major boost for the American aircraft manufacturer.

The order for Boeing 787s will be divided between Saudi Arabia’s flag carrier, Saudia, and a planned new airline called Riyadh Air, which Saudi officials introduced over the weekend.

At list prices, the combined deal would be worth about $37 billion if the options are exercised, but airlines routinely get deep discounts. Terms of the deal were not disclosed.

Relatively high oil prices have boosted Saudi Arabia’s economy and government, making it easier for the kingdom to close a multi-billion-dollar jet order.

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