Saudi Arabia’s Crown Prince Mohammad bin Salman bin Abdulaziz, announced the launch of its new national airline, Riyadh Air. The Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, owns 100% of Riyadh Air. The new airline has appointed industry veteran Tony Doughlas as its chief executive and promises to create 200.000 jobs.
Riyadh Air, Saudi Arabia’s New Airline
The unique geographic position of Saudi Arabia between the three continents of Asia, Africa, and Europe will be taken advantage of by the new national carrier. As a result, Riyadh will be able to develop into a major international hub for trade, tourism, and transportation.
Yasir Al-Rumayyan, the governor of PIF, will serve as the company’s chairman, while Tony Douglas has been named CEO. He has more than 40 years of expertise in the aviation, transportation, and logistics sectors. The senior management of the airline will include International as well as Saudi expertise.
HRH Crown Prince announces #RiyadhAir, a new national carrier to further expand the Saudi aviation ecosystem locally and globally.
Read more: https://t.co/emlrIvbU8k pic.twitter.com/xvldmqW6GN
— Public Investment Fund (@PIF_en) March 12, 2023
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The Airline Will Also Generate Job Opportunities
The world’s best sustainability and safety standards will be adopted by Riyadh Air’s modern fleet of aircraft, which will be outfitted with the most cutting-edge technology. The airline is anticipated to boost non-oil GDP growth by $20 billion and generate more than 200,000 direct and indirect job opportunities.
The airline aims to enhance the experience of all travellers by connecting them to more than 100 destinations by the year 2030. With amazing services, they will gift every traveller with the warmth of Saudi hospitality.
The launch of Riyadh Air is a component of PIF’s plan to develop potential industries so they may support the diversification of the local economy. With more than $600 billion in assets, the PIF is the major force behind the country’s efforts to diversify its economy.
#RiyadhAir will be chaired by His Excellency Yasir Al-Rumayyan, Governor of #PIF pic.twitter.com/K7AN1ooifX
— Public Investment Fund (@PIF_en) March 12, 2023
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