⁍ State-owned Saudi Arabian Airlines is facing a claim in London’s High Court.

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⁍ Alif Segregated Portfolio Company specialises in shariah-compliant aircraft leasing.

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⁍ Alif could seek at least $460 million in unpaid rent and maintenance cost.

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– A Dubai-based financial services firm is suing Saudi Arabian Airlines for $460 million in unpaid rent and maintenance costs, according to court documents seen by Reuters. Alif Segregated Portfolio Company, which specializes in shariah-compliant aircraft leasing, claims Saudia has failed to pay basic rent after seeking to reduce its payments and engaging in “unauthorized and unnotified engine and part swaps,” according to the documents filed in London’s High Court. Saudia, also known as Saudi Arabian Airlines, says it will stand by its contractual commitments and is “prepared to defend itself against inaccurate claims.” Saudia signed a deal with Alif in 2015 to lease 50 Airbus aircraft, worth about $8.2 billion at the time. The airline, which has been struggling since the spread of the coronavirus in March, resumed domestic flights in May but says it doesn’t expect flight operations to return to normal until the end of the year and has asked some cabin crew employees to suspend their contracts. Aviation has been one of the worst-hit industries during the pandemic and regional airlines including Emirates Airline, which has received $2 billion from the government of Dubai, have cut thousands of jobs.