Saudi Arabia places order with Boeing for up to 121 planes

By DAVID KOENIG and AAMER MADHANI
Associated Press

Saudi Arabia is buying up to 121 jetliners from Boeing in a big boost for the American manufacturer. The deal was expected to be announced Tuesday. The order for Boeing 787s will be divided between Saudi Arabia’s flag carrier, Saudia, and a planned new airline to be called Riyadh Air. At list prices, the combined deal would be worth about $37 billion, but airlines routinely get deep discounts. Terms of the deal are not being disclosed. Boeing has been talking to the Saudis about an order for three years, according to two senior U.S. administration officials.