UPDATE 2-Saudi Airlines buys Boeing planes

* Saudi Arabian airlines orders 20 Boeing planes

* Orders 12 777-300 planes for $3.3 bln
(Rewrites first paragraph, adds Boeing background, changes
dateline, previously JEDDAH)

NEW YORK, Nov 7 (BestGrowthStock) – Saudi Arabian Airlines ordered
12 Boeing 777-300 “Extended Range” (ER) planes for $3.3
billion, in addition to eight 787 Dreamliners, Boeing (BA.N: )said on Sunday.

The Saudi national carrier, which is in the process of
being privatized, also took out an option for 10 more 777s.

“Our decision to order the 777-300 ER is part of a
long-term growth strategy to expand and modernize our fleet
with newer, more fuel-efficient airplanes,” said Khaled
al-Mulhim, director general of Saudi Arabian Airlines.

The carrier did not give the price for the Dreamliner
order.

Saudi Airlines has a fleet of more than 114 planes,
including 35 Boeings and 35 Airbus A320s. The new order will
raise the number of Boeing 777 planes in the Saudi fleet to
35.

According to the U.S. company’s website, as of Nov. 2, the
world’s second-largest commercial plane-maker after Airbus has
taken orders for a net total of 48 777s in 2010.

Boeing had orders for 847 787 Dreamliners on its books. It
had a net loss of four 787s for 2010 as of Nov. 2.

The long-delayed 787 is nearly three years behind schedule.
It is set for first delivery in the first quarter of 2011, but
there is industry speculation that another delay for the
light-weight carbon composite plane could be announced.

Boeing said on Thursday it took a new order for eight 777s,
potentially worth $2.7 billion, from BOC Aviation in the week
that ended Nov. 2. At the time, Boeing had taken a net total of
480 commercial airplane orders in 2010, compared with 263 in
all of 2009.
(Reporting by Helen Chernikoff; additional reporting by Kyle
Peterson and Asma Alsharif; Editing by Maureen Bavdek)

UPDATE 2-Saudi Airlines buys Boeing planes