Saudi Crown Prince Mohammed bin Salman announced recently the establishment of the Public Investment Fund, “Riyadh Airlines”, the new Saudi air carrier.
The new airline will contribute to the development of the air transport sector and enhance the Kingdom’s strategic location that connects three of the most important continents of the world, Asia, Africa, and Europe, according to the Saudi Press Agency (SPA).
The Saudi crown prince added that the establishment of the new company aims to ” raise the competitiveness of national companies, in accordance with the objectives of Saudi Vision 2030.”
The Saudi Public Investment Fund said, in a statement, that “Riyadh Airlines”, which takes the capital, Riyadh, as a main center to manage its operational operations and a starting point for its flights, aims to launch flights that reach more than 100 destinations around the world by 2030. It will provide exceptional levels of integrated services.
The board of directors of “Riyadh Aviation” is chaired by the governor of the Saudi Public Investment Fund, Yasser bin Othman Al-Rumayyan, with the appointment of Tony Douglas, who has more than 40 years of experience in the transportation, aviation and logistics services sector, as CEO of the company, according to the statement.
The Fund added that the establishment of “Riyadh Air” comes “in line with the Public Investment Fund’s strategy to unleash the potential of promising sectors locally to support the diversification of the economy,” noting that the company is expected to contribute to the growth of the non-oil GDP of the Kingdom by a value of up to 75 billion riyals, and to create more More than 200,000 direct and indirect job opportunities.
The statement pointed out that “Riyadh Aviation” and King Salman International Airport, “are among the latest investments of the Public Investment Fund in the aviation sector, aimed at raising the financial sustainability of the aviation sector system, and enhancing its global competitiveness in order to achieve the goals of Saudi Vision 2030.”
The Saudi Public Investment Fund stated that the launch of “Riyadh Airlines” will contribute to providing more opportunities for tourists and visitors from all over the world to reach the most beautiful tourist and natural sites in the Kingdom.
It will also form a new era in the field of travel and aviation, by increasing air transport options in conjunction with the increase in the number of travelers to and from the Kingdom and raising the capacity for transport, freight, and strategic logistics services.
The Fund said that establishing the new air carrier “contributes to attracting international passenger traffic and linking between different continents of the world.
The city of Riyadh will be a gateway to the world and a global destination for transport, trade, and tourism, thus contributing to achieving the objectives of the national strategy for transport and logistics services in the air transport sector.
