Riyadh Air, a new national airline, has been formally launched by Saudi Arabia’s Crown Prince Mohammed bin Salman. A major project in progress, Saudi Arabia-headquartered Riyadh Air will be based in the capital city of Riyadh, which serves as both the kingdom’s commercial hub and the entry point to the nation’s rapidly expanding tourism industry.
According to state news agency Saudi Press Agency (SPA), the new airline in progress is set to leverage Saudi Arabia‘s connection between Asia, Africa, and Europe.
According to the statement, Riyadh Air will be chaired by Yasir Al-Rumayyan, governor of PIF, while Tony Douglas, who brings more than 40 years of experience in the aviation, transportation and logistics industries, has been appointed the Chief Executive Officer. The airline’s senior management will include Saudi and international expertise, PIF says in the statement.
The statement adds that Riyadh Air is designed to be a world-class airline, adhering to the finest worldwide sustainability and safety standards across its advanced fleet of aircraft equipped with the latest cutting-edge technology. It is anticipated to increase non-oil GDP growth by USD 20 billion and generate more than 200,000 direct and indirect jobs. The airline, with Riyadh as its hub, will usher in a new era of international travel and aviation. Along with the newly reported concept for King Salman International Airport, the future national airline is the PIF’s most recent investment in the industry.
According to the Saudi Aviation Strategy, the annual passenger volume will triple to 330 million by 2030, there will be 250 destinations instead of the current 99, and a new flag carrier will be established. Government and business sector investments totalling USD 100 billion will support this plan, says the statement.
By expanding air transportation alternatives, enhancing cargo capacity, and ultimately increasing international passenger traffic, Riyadh Air will also stimulate the Saudi National Transport and Logistics Strategy and the National Tourism Strategy. The airline would make it possible for travellers from all over the world to explore the cultural and natural wonders of Saudi Arabia.
The creation of Riyadh Air is a component of PIF’s plan to develop promising industries so they can support the diversification of the regional economy. It would make Saudi Arabia’s aviation ecosystem more financially stable and promote the sector’s international competitiveness in line with Vision 2030, concludes the statement.