Saudia Group has signed a memorandum of understanding with Saudi Export-Import Bank and Crédit Agricole CIB to finance new Airbus aircraft, building a funding framework for an orderbook that already stands at 144 jets and potentially for a further purchase of at least 150 aircraft under evaluation.

The parties signed the MOU in Paris on August 25 during the French-Saudi Investment Roundtable. Under the proposed structure, Crédit Agricole CIB would act as financier and arranger, with Saudi EXIM providing insurance coverage against credit risks tied to the transactions.

Saudia said the financing would align with aircraft delivery schedules as the group expands and modernizes its fleet. The carrier did not identify specific aircraft and disclosed no potential value for the arrangement.

The timing points first to an existing backlog rather than a new commitment. In May 2024, Saudia Group ordered 105 A320neo-family aircraft — 12 A320neos and 93 A321neos. Saudia took 54 of the A321neos; low-cost subsidiary flyadeal was assigned the 12 A320neos and the remaining 39 A321neos. That order lifted the group's total Airbus orderbook to 144 aircraft at the time.

Deliveries from the 105-aircraft order begin in 2026 and run through 2032, creating a long-dated financing requirement that the new structure is built to serve. The agreement's reference to financing aircraft according to delivery schedules is consistent with jets Saudia Group has already committed to acquire, and the MOU is not by itself a signal that another Airbus order is imminent.

The scope, however, does not stop at aircraft already ordered. The parties also intend to explore additional financing transactions associated with future aircraft orders and fleet development programs.

That provision matters because Saudia has been weighing another large acquisition. Bloomberg reported in February that the flag carrier was in discussions with Airbus and Boeing over a potential order for at least 150 aircraft, covering narrowbody and widebody passenger jets as well as freighters. No final allocation between the two manufacturers has been disclosed.

The financing arrangement could therefore serve two purposes. It provides a funding channel for Airbus deliveries already scheduled over the coming years, and it leaves the same structure open if Saudia Group places additional orders with the European manufacturer.

The group's growth extends beyond the flag carrier. flyadeal is expanding its own fleet and network, and the group holds commitments with both Western manufacturers: Saudia has Boeing 787s awaiting delivery, and Saudia Cargo announced an agreement in July for four new Boeing 777 freighters.

Saudi Arabia is investing heavily in aviation and tourism, and Saudia Group's fleet plans are scaling with that national push. How quickly the Crédit Agricole and Saudi EXIM framework converts into drawn financing will depend on Airbus holding to its 2026–2032 delivery schedule — and on whether the talks with Airbus and Boeing over a further 150 aircraft harden into a firm order.