His Royal Highness Prince Sultan Bin Abdulaziz, Saudi Crown Prince, Deputy Prime Minister, Minister of Defense and Aviation, Inspector General, and Board Chairman of the Saudi Arabian Airlines Company, hosted the board meeting held at his office in the Ministry of Defense and Aviation on Tuesday 2nd of Hajj 1428, 10th of December 2007, in the presence of the Assistant Minister of Defense and Aviation and Inspector General for Civil Aviation His Highness Prince Fahd bin Abdullah bin Mohammed Al-Saud, in addition to the members of the Governing Council.

During the meeting, the estimated budget for 2008 was reviewed, in addition to the approval of the financial statements and audit reports for the fiscal year ending December 31, 2006. The meeting hosted the signing ceremony for the purchase of (30) Airbus 320 aircrafts for the Saudi Arabian Airlines, of which (8) aircrafts were an optional purchase. The agreement was signed by his Excellency the Director General Khalid bin Abdullah Al-Bahrawi from the Saudi side and Mr. John Leahy Chief Executive Officer of the Airbus Company. The first shipment of the new fleet is expected to arrive in mid 2012, once the manufacturing process is completed, while the remaining aircrafts are expected to arrive in mid 2014. During the meeting, the company signed a "long-term" lease with General Electric Air Services for ten new Airbus 320 aircrafts; the hand over of these aircrafts is expected to take place in November 2009 and to be completed in October 2011. In addition, the Saudi Arabian Airlines signed a letter expressing their desire to hire ten planes of the same class with the "Gulf Wind" investment bank; we are currently expecting to receive these aircrafts at the beginning of April of 2009, and until July of 2010.