Saudi Prince buys world's largest plane

Airbus on Monday named Prince Alwaleed bin Talal as the first private buyer of an A380 Superjumbo, the world's largest passenger airliner.

The Saudi billionaire, whose interests span Kingdom Holding to Euro Disney, hotels and banking, has ordered a VIP version of the A380 dubbed the Flying Palace, the European plane maker said.

The buyer's identity had been one of the biggest mysteries in aviation for months.

Russian billionaire Roman Abramovich recently denied reports that he had bought a A380, whose ordinary passenger edition sells for over $300 million.