Boeing and Saudi Arabian Airlines announced an order for 12 Boeing 777-300ER (Extended Range) airplanes, with an option to buy 10 more. The order is valued at $ 3.3 billion at average list prices.
Saudi Arabian Airlines also announced an order for 8 Boeing 787 Dreamliners for its long-haul fleet.
“Our decision to order the 777-300ER is part of a long-term growth strategy to expand and modernize our fleet with newer, more fuel-efficient airplanes,” said Eng  Khaled Al-Mulhim, Director General of Saudi Arabian Airlines. “We see direct benefit because of the 777-300ER’s improved fuel efficiency, seat-mile costs and the economics of operating a twin-engine airplane over long distances.”
Saudi Arabian Airlines took delivery of its first Boeing 777, a 777-200ER, in December 1997 and since then has deployed 23 Boeing 777-200 ERs globally on short, medium and long-haul routes. With this order, the airline will be operating 35 Boeing 777s.
“Saudi Arabian Airlines is one of Boeing’s very first customers in the Middle East, with a relationship that goes back several decades,” said Jim Albaugh, President and CEO of Boeing Commercial Airplanes. “In fact in 1961, Boeing was privileged to have witnessed Saudi Arabia’s entry into the jet age with a Boeing 707 when it became the first in the Middle East to operate a jet airplane.”
The 777-300ER is the world’s largest long-range twin-engine jetliner, and is capable of carrying up to 365 passengers up to 7,930 nautical miles (14,685 km). It first entered service in May 2004 and through October 2010, 251 777-300ERs have been delivered.  
“We aim to continue solidifying our strategic relationship with Saudi Arabian Airlines,” added Ahmed Jazzar, President of Boeing Saudi Arabia and VP, Boeing International: “We are also committed to a continued partnership with the Saudi government, enterprises and customers in their long-term plans to develop aerospace infrastructure and capabilities in the Kingdom.”