His Royal Highness Crown Price Mohammad bin Salman bin Abdulaziz, Prime Minister and Chairman of the Public Investment Fund, announced on Sunday the establishment of a new national airline, Riyadh Air.
On Sunday (March 13, 2023), His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister and Chairman of the Saudi Public Investment Fund (PIF), announced the establishment of a new national carrier for the Kingdom of Saudi Arabia, Riyadh Air. The new airline will be wholly owned by the PIF, and will leverage the Kingdom’s strategic geographic location between Asia, Africa and Europe. Riyadh Air will be chaired by His Excellency Yasir Al-Rumayyan, Governor of PIF, while aviation industry veteran Tony Douglas will serve as Chief Executive Officer.
Speaking about the establishment of the new Saudi Arabian airline, Riyadh Air’s CEO, Tony Douglas, said,
Riyadh Air will be a digitally native airline, driven by a pioneering spirit with an obsessive focus on attention to detail and innovation at its heart. We aim to permanently transcend our guests’ perceptions and experiences of flying in the modern world. The new airline comes at a pivotal moment for Saudi Arabia, as it realizes the ambitious goals of Vision 2030. We are privileged to play an active role in showcasing Saudi Arabia’s rich cultural heritage and stunning natural attractions to tourists from around the world.”
Based in Riyadh, the new airline will connect the Saudi capital to over 100 destinations worldwide by 2030. Riyadh Air will acquire modern aircraft equipped with the latest technology, and will adopt world-class sustainability and safety standards. The airline is expected to add US $20 billion to non-oil GDP growth, while creating over 200,000 direct and indirect jobs. Riyadh Air is PIF’s latest investment in the aviation sector, along with the recently announced King Salman International Airport masterplan.
Riyadh Air plans on offering an exceptional travel experience, with warm and authentic Saudi hospitality at heart. The airline will provide tourists from around the world the opportunity to visit the Kingdom’s cultural and natural attractions. The carrier will also serve as a catalyst for the Saudi National Transport and Logistics Strategy, and the National Tourism Strategy, by increasing air transport options, raising cargo capacity, and growing international passenger traffic. The establishment of Riyadh Air is part of PIF’s strategy to unlock the capabilities of promising sectors that can help diversify the economy.
Source: Riyadh Air
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