Saudi Kingdom Prince unveils new national airlines

Monday, March 13, 2023

Saudi Arabia’s Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister and Chairman of the Public Investment Fund (PIF), has announced the establishment of a new national airline. The airline, named Riyadh Air, will be owned by PIF and chaired by Yasir Al-Rumayyan, Governor of PIF. The airline’s senior management will include both Saudi and international expertise.

Tony Douglas, a veteran with over 40 years of experience in the aviation, transportation, and logistics industries, has been appointed as the CEO. Douglas previously led UAE-based airline Etihad from January 2018 to October 2022.

Riyadh Air will be headquartered in the Saudi capital and will leverage the country’s strategic location to connect passengers to over 100 destinations by 2030. The airline is expected to add $20 billion to non-oil GDP growth and create more than 200,000 direct and indirect jobs.

In addition to boosting the country’s economy, Riyadh Air will also serve as a gateway for tourists to explore Saudi Arabia’s cultural and natural attractions. The airline will play a crucial role in 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.

Overall, the establishment of Riyadh Air marks a significant milestone for Saudi Arabia’s aviation industry and underscores the country’s commitment to diversifying its economy and promoting tourism.

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