-- Saudi Arabia is in negotiations for the order of about 40 Airbus A350 planes in a deal worth $12 billion that could be announced this week, Reuters reports, citing unnamed sources.

-- The negotiations come as the country moves to start a new airline, which will be named RIA, to challenge the hold other companies have in the Gulf region, Reuters says.

-- It is still unclear if Saudi Arabia will also secure plane orders from Airbus rival Boeing, Reuters reports.

Full story: https://reut.rs/3VY09W3

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

October 24, 2022 01:54 ET (05:54 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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