Saudia Group has signed a memorandum of understanding with Saudi EXIM Bank and Crédit Agricole CIB to explore financing for new Airbus aircraft, with the parties using a Paris investment roundtable to advance a potential aircraft funding structure. The non-binding arrangement is aimed at supporting Saudia’s fleet growth and modernisation programme while broadening its future funding sources.
The proposed structure would place Crédit Agricole CIB in the role of financier and arranger, while Saudi EXIM would provide credit risk insurance subject to its requirements and final terms. The signatories were Saudia Group Director General Ibrahim Al-Omar, Saudi EXIM chief executive Saad Al-Khalb and Crédit Agricole CIB Aviation Group managing director André Zervudachi. One report said the plan relates to four Airbus aircraft for Saudia, though no aircraft types, delivery timetable or final commercial terms were disclosed.
The signing formed part of a wider Saudi-French investment roundtable in Paris, where business and government leaders discussed cross-border investment opportunities alongside other cooperation agreements. For Saudia, the MoU adds an export-credit-backed financing channel to its aircraft acquisition programme as the group continues to expand its network and modernise its fleet.