Saudi Arabia announced the establishment of a new airline company Riyadh Air.
The Prime Minister of Saudi Arabia, Prince Mohammed bin Salman, has officially announced the establishment of “Riyadh Air“. Parent company an airline owned by the Public Investment Fund PIF on Sunday.
Chairman
PIF Governor Mr Yasir Al Rumian will-be the chairman of Riyadh Air while Tony Douglas. Who has over 40 years of experience in the aviation, transportation and logistics industries has-been appointed, as the Air company chief executive officer.
The airline senior management will include a team of Saudi Arabia and international experts.
Operating from Riyadh, the airline will usher in a new era for the (global) World travel & aviation industry.
According to the SPA: Riyadh Air will-be a world class airline that will adopt sustainability & safety standards in its modern fleet of aircraft equipped with the latest advanced technology.
CEO
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| Riyadh Air CEO Tony Douglas |
According to the statement, the new national airline as a subsidiary of PIF is poised to benefit from the investment expertise, and financial capabilities of the Public Investment Fund while expanding the company operations to become a major national airline. will.
The new national airline represents (PIF) latest investment in the sector along with the recently announced King Salman International Airport master plan.
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| Riyadh Air Saudi Arabia Logo photo by SPA. |
Riyadh Air aims to expand customer travel & connect them to more than 100 destinations worldwide by 2030.
The airline will provide tourists from all over the world with the opportunity to visit the cultural & natural places of Saudi Arabia.
Riyadh Air will also contribute to the Aribia Saudi National Transport and Logistics Strategy and National Tourism Strategy to increase air transport, cargo capacity & consequently international passenger traffic.
Muhammad Bin Salman announcement will make it difficult for travelers to make travel decisions where they have options with regional carriers such as Qatar Airways, Turkish Airlines and Emirate Airways. Which continue to provide their passengers with the best offers to compete with the competition.
Riyadh Air is wholly owned by Saudi Arabia sovereign wealth fund. The Public Investment Fund, which has more than 600$ billion in assets.
The establishment of Riyadh Air is part of PIF strategy to capitalize on the potential of promising sectors that can help boost the local economy.
This will help make the aviation industry world globally competitive in line with the Crown Vision 2030.
