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FINANCIAL NEWS
Boeing’s USD29.4b deal with Saudi boosts Q4 profit
27 Jan 2012
(MENAFN) Boeing said that the USD29.4 billion deal it inked with Saudi was one of the company’s major deals in 2011 and largely contributed to the plane maker’s fourth-quarter profit, reported Arabian Business.
The US firm added that in December, it signed an agreement with Saudi Arabia to deliver Boeing-built F-15SA combat aircraft to the Royal Saudi Air Force.
It also said that the contract included the production of 84 new aircraft and the modernization of 70 existing aircraft, in addition to munitions, spare parts, training, maintenance and logistics.
It is worth noting that Boeing announced that net income in the fourth quarter reached USD1.4 billion, on a revenue of USD19.6 billion.
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