In one of the largest commercial orders by value in Boeing’s history, Riyadh Air, the new airline, announced an order of up to 72 Boeing 787-9 Dreamliner airplanes. Saudi Arabia and Boeing have reached a $37 billion agreement to buy 121 787 Dreamliners, which include 39 confirmed aircraft, with an option to acquire 33 additional widebody airplanes.

This will support the kingdom’s goal of serving 330 million passengers and attracting 100 million visits by 2030, adding $20 billion to non-oil GDP growth and creating more than 200,000 direct and indirect jobs. The first deliveries of the widebody aircraft are scheduled for early 2025.

Riyadh Air was launched earlier this week by the Public Investment Fund.

“This is a momentous day for PIF and Riyadh Air and highlights our determination to significantly extend Saudi Arabia’s connectivity with the world,” said Yasir Al-Rumayyan, Public Investment Fund governor and chairman of the carrier.

“This partnership with Boeing in building the fleet is the next step in achieving the aspirations of Saudi Arabia as a global transportation hub,” he added.

Talks between Boeing and Saudi Arabia have reportedly continued for years, culminating in “intense negotiations over the past few months,” according to White House Press Secretary Karine Jean-Pierre.

“Today’s announcement ensures that Boeing and General Electric will anchor Saudi Arabia’s new international airline together with support for a new international airport,” she said.