Tourexpi
Saudi Arabia launches new national airline
Saudi Crown Prince
Mohammed bin Salman on Sunday announced the creation of a new national airline.
Riyadh Air will be
headquartered in the Saudi capital and is wholly-owned by the Public Investment
Fund (PIF).
The company’s board
of directors will be chaired by PIF Governor Yasser bin Othman al-Rumayyan.
State news agency SPA
said the new national carrier will leverage Saudi Arabia’s strategic geographic
location between Asia, Africa and Europe, enabling Riyadh to become a global
destination for transportation, trade, and tourism.
The company is
expected to contribute to the growth of the kingdom’s non-oil gross domestic
product, with a value of up to 75 billion riyals ($20 billion), and to create
more than 200,000 job opportunities.
It targets to serve
more than 100 destinations around the world by 2030.
Riyadh Air will be
Saudi Arabia's second national carrier alongside Saudia.
Image Credit: © AA
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