Saudia signs agreement with French bank to finance new Airbus aircraft
Saudia Group has signed a memorandum of understanding (MoU) in Paris, France, to explore and arrange financing solutions to acquire new Airbus aircraft.
On August 25, 2026, a statement said the agreement was part of three-way signing between Saudia, Saudi Export-Import Bank and Crédit Agricole CIB, the corporate and investment Banking arm of Crédit Agricole Group.
The agreement was signed on the sidelines at the French-Saudi Investment Roundtable hosted by the Ministry of Investment, which aims to “strengthen economic and investment partnerships between Saudi Arabia and France”.
The event was held as His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud visited France.
“Under the memorandum, Saudia will implement its investment plans to expand and modernize its fleet. Crédit Agricole Corporate, as financier and arranger, will structure and arrange the necessary financing for aircraft purchases in line with delivery schedules,” a statement read. “Saudi EXIM Bank, as the Kingdom’s export credit agency, will support the financing by providing insurance coverage for credit risks associated with the transactions.”
Saudi Press AgencyAs part of the Saudi government, Saudi EXIM “works to empower non-oil national exports and enhance their presence in global markets”.
The memorandum was signed by Director General of Saudia Group, Ibrahim Al-Omar, CEO of Saudi EXIM Bank, Saad Al-Khalb, and Managing Director of Crédit Agricole Corporate and Investment Bank, André Zervudachi.
“The memorandum reflects an integrated approach to export financing, combining the risk-bearing capacity of national institutions with the liquidity and specialized expertise of international financial institutions,” a spokesperson said. “It also aims to enhance the competitiveness of Saudi companies and expand their capacity to undertake growth-oriented investments in international markets.”
According to ch-aviation, Saudia currently has an active fleet of over 150 aircraft, including Boeing 777s and Airbus 787 Dreamliners.
The Saudi flag carrier is awaiting delivery of 60 A321neos, 13 A321XLRs, 21 787-10s, and 13 787-9s.
AirbusEarlier this year, there were reports within the industry that Saudia was considering placing a major aircraft order that could include at least 150 jets from Boeing and Airbus for both commercial and freighter services.
On July 6, 2026, Saudia Cargo announced that it had signed an agreement with Boeing for four new 777-200 freighter aircraft, adding to the four it already operates.
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Saudia Group has signed a memorandum of understanding (MoU) in Paris, France, to explore and arrange financing solutions…
The post Saudia signs agreement with French bank to finance new Airbus aircraft appeared first on AeroTime.
