Riyadh: His Highness the Saudi Crown Prince has announced the establishment of "Riyadh Air" as a new national air carrier with international standards to enable the Saudi aviation system and link Riyadh with more than 100 international destinations.
A statement issued online by the Saudi News Agency (WAS) said: ”His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister and Chairman of the Board of Directors of the Public Investment Fund, announced the establishment of the Public Investment Fund for "Riyadh Air", the new national air carrier, to contribute to the development of the aviation sector and to enhance the Kingdom's strategic location, which connects three of the most important continents of the world; Asia, Africa and Europe.”
This step will work to raise the competitiveness of national companies in accordance with the objectives of Saudi Vision 2030.
The company, which is based in the capital, Riyadh, as a main centre for managing its operations, is a starting point for its flights. The airline owns a fleet of advanced aircraft, through which it aims to implement the best international safety and sustainability practices approved in the field of aviation, in addition to providing the latest digital technologies for leadership in this field.
Riyadh Air will be led by an elite group of local and international experts, and its board of directors will be chaired by His Excellency the Governor of the Public Investment Fund, Mr. Yasser bin Othman Al-Rumayyan, while Tony Douglas has been appointed as CEO of the company, who has more than 40 years of experience in the transportation, aviation and logistics sectors.
As a company wholly owned by the Public Investment Fund, the fund's financial capabilities and investment expertise will enable the company to expand its operations in a way that supports its future plans to be a leading national and global company in the aviation sector.
To enrich the passengers' experience, "Riyadh Air" aims to launch flights to more than 100 destinations around the world by 2030, and will provide exceptional levels of integrated services, mixed with the authentic Saudi hospitality.
The launch of “Riyadh Air” will also 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, to form a new era in the field of travel and aviation, by increasing air transport options coinciding with the increase in the number of passengers to and from the Kingdom.
It also will raise the capacity for transportation, shipping and strategic logistics services, which contributes to attracting the movement of international travellers making the city of Riyadh a gateway to the world, and a global destination for transport, trade and tourism.
The establishment of "Riyadh Air" comes in line with the strategy of the Public Investment Fund to unleash the potential of promising sectors locally to support the diversification of the economy.
"Riyadh Air" is expected to contribute to the growth of the Kingdom's non-oil GDP, and to create more than 200,000 direct and indirect job opportunities.