Saudi Prince Alwaleed buys his own Airbus A380

Airbus announced today that Saudi billionaire Prince Alwaleed bin Talal is the first private buyer of an A380 superjumbo, the world’s largest passenger airplane. The price of A380 exceeds $300 million.

There was a previous rumor that Airbus sold a A380 to a private buyer, but didn’t disclose its name. That is, until now, as Airbus is planning to show this at the Dubai air show. Prince Alwaleed owns a variety of properties from Kingdom Holding to Euro Disney, as well as stakes in the Four Seasons hotel chain and Plaza Hotel in New York. The A380 he ordered will be a VIP version dubbed the “Flying Palace”. He already has a Boeing 747-400, the previous largest jumbo jet available on the market. Airbus also released the first A380s to Singapore Airlines last month. It can seat 525 passengers in three classes or more than 800 in all economy layout by using less space between seats. It boasts 551 square meters (5,930 square feet) of usable floor space on twin passenger decks, enough for a couple of tennis courts. The passenger edition sells for over $300 million (144.5 million pounds), but the VIP edition will cost a little more, which the Saudi Prince can afford. As Reuters reports:

The A380 can be fitted with cocktail bars, casinos, showers and sleeping quarters for first class passengers on ordinary airlines. For the super rich, the sky is the limit.

The VIP version will be custom-made according to the prince’s demands. Boeing has also sold to private clients in the past; the company sold five 747-8 Intercontinental to three unnamed individuals. I would bet the Saudi prince could afford the entire Airbus Industry. With the current $100-per-barrel price of oil, they can buy anything they want.