State-owned Saudi Arabian Airlines is facing a claim in London’s High Court filed last month by a Dubai-based financial services firm over an alleged breach of lease agreements of 50 Airbus aircraft, court documents showed.
Alif Segregated Portfolio Company, which specialises in shariah-compliant aircraft leasing, has filed a complaint against the Jeddah-based carrier, also known as Saudia, in which it could seek at least $460 million in unpaid rent and maintenance cost.
Alif also demands other damages and costs, the documents seen by Reuters showed. London’s High Court told Reuters the claim has been filed but not yet acknowledged by the defendant.
The airline, in a statement to Reuters, said it would stand by its contractual commitments and was also prepared to defend itself against inaccurate claims.