Oct 24 (Reuters) – Saudi Arabia is in advanced negotiations to order almost 40 A350 jets from Airbus as part of a broader, multi-billion-dollar drive to launch a new airline and challenge heavyweight carriers in the Gulf, industry sources said.

There is no guarantee of a deal but if confirmed, the purchase by the sovereign Public Investment Fund (PIF) could be announced as early as this week when Riyadh hosts a major forum, the Future Investment Initiative (FII), the sources said.

Reuters
Photo Rob Vogelaar