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Saudi Arabian Airlines in talks to purchase Dreamliner 787

"So far four Arab airlines have purchased the new aircraft and we are in discussions with Saudi Arabian Airlines," Jazzar informed a Press conference in Riyadh recently.

Three of the Arab airlines have been named as Qatar Airways, Royal Jordanian and Etihad.

Boeing had introduced its latest innovative aircraft to the world market in an extravagant event held in Everett, Washington, on July 8. Since the official launch, over 683 aircraft have been sold to 47 airlines all over the world.

According to Jazzar, that is the highest number of commercial aircraft sold in aviation history by a company before the plane beginning its operation. An airline company in Japan was the first to purchase the aircraft as it bought 50 planes from Boeing in 2004, three years before its official launch in July 8.

"Due to the large demand, airlines who purchase the aircraft today might not receive it before 2015," Jazzar said.

The Boeing Dreamliner 787's list price is US$160 million, almost half a billion riyals.

Unlike its competitor the Airbus A380 which is larger in passenger capacity, the Boeing's latest aircraft relies on better fuel efficiency and longer air travel durations from one destination to another. It can fly up to 15,000 kilometres without refuelling. The aircraft is the first to be built entirely by fibre optic materials, replacing aluminum and metal. It also saves 25 percent of normal commercial aircraft fuel consumption.

Jazzar reaffirmed the company's strategic partnership with countries in the Middle East, particularly Saudi Arabia.

He added that Boeing and the Saudi Arabian General Investment Authority (SAGIA) had signed a Memorandum of Understanding (MOU) in the United States on May 15 to locate areas of partnership and cooperation in the aviation sector.

He also added that Boeing has shown interest in investing in the Kingdom's six economic cities. "Boeing's partnership in the economic cities is in the construction of airports as well as areas related to aviation engineering in those cities," he said.

He said that cooperation with the government of Saudi Arabia continued in several fields, among which is the education sector where it is helping the Saudi government to achieve its goals in the development of technologies that help create and capture new markets as well as provide jobs for locals. He gave the example of Boeing being one of the key partners in the Kingdom's first international private university — Alfaisal University.

The company has also announced plans to support various education and training programmes and initiatives with King Saud University, King Abdul Aziz University, and the Riyadh Chamber of Commerce and Industry.