Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud announced the establishment of the Public Investment Fund's new national airline, "Riyadh Airline." This initiative aims to contribute to the development of the air transport sector and enhance the Kingdom's strategic position, connecting three of the world's most important continents: Asia, Africa, and Europe, while working to increase the competitiveness of national companies in line with the goals of Saudi Vision 2030.
"Riyadh Airline" will be led by a team of local and international experts, with Yasser bin Othman Al-Rumayyan, the Governor of the Public Investment Fund, serving as the Chairman of the Board, and Tony Douglas appointed as the CEO of the company, bringing over 40 years of experience in transportation, aviation, and logistics, according to the Saudi Press Agency (SPA).
As a fully owned subsidiary of the Public Investment Fund, the airline will leverage the fund's financial capabilities and investment expertise to expand its operations and support its future plans to become a leading national and global player in the aviation sector. To enhance passenger experience, "Riyadh Airline" aims to launch flights to over 100 destinations worldwide by 2030, offering exceptional integrated services combined with the authentic Saudi hospitality.
The launch of "Riyadh Airline" will provide more opportunities for tourists and visitors from around the world to access the most beautiful tourist and natural sites in the Kingdom, marking a new era in travel and aviation. This will occur alongside an increase in air travel options, as well as a rise in the number of travelers to and from the Kingdom, enhancing the capacity for transport, cargo, and strategic logistics services. This aims to attract international passenger traffic and connect various continents, making Riyadh a gateway to the world and a global hub for transport, trade, and tourism, contributing to the realization of national transportation and logistics strategy goals in the air transport sector.
The establishment of "Riyadh Airline" aligns with the Public Investment Fund's strategy to unleash the potential of promising local sectors to support economic diversification. It is expected that "Riyadh Airline" will contribute to a growth of the Kingdom's non-oil GDP by up to 75 billion riyals and create more than 200,000 direct and indirect job opportunities.
"Riyadh Airline" and King Salman International Airport are among the latest investments by the Public Investment Fund in the aviation sector, aimed at enhancing the financial sustainability of the aviation ecosystem and improving its global competitiveness in line with the goals of Saudi Vision 2030.
