Crown
Prince Mohammed bin Salman
announces establishment of Riyadh Air
Saudi Crown Prince Mohammed bin Salman, who is
also Prime Minister and Chairman of the Public Investment Fund (“PIF”), has
made the much-awaited announcement of the establishment of “Riyadh Air”.
The new national carrier, a PIF wholly owned
company, will give additional weight to Saudi Arabia’s strategic location
between the three continents of Asia, Africa and Europe.
It will enable the Saudi capital to become a
gateway to the world and a global destination for transportation, trade, and
tourism.
Yasir Al-Rumayyan, Governor of PIF will be the
chairman of Riyadh while aviation veteran Tony Douglas has been appointed Chief
Executive Officer. The airline’s senior management will include talent from
Saudi Arabia and abroad.
The latest Saudi airline will operate from
Riyadh as its hub and will start a new era for the travel and aviation industry
globally. Riyadh Air will be a world-class airline, and employ the global best
sustainability and safety standards. The airline is expected to add USD20
billion to non-oil GDP growth in Saudi economy, and create more than 200,000
direct and indirect jobs.
The new national carrier is will benefit from
PIF’s vast experience in investment and financial capabilities.
Riyadh Air aims to connect passengers to over
100 international destinations by 2030 by offering warm Saudi hospitality at
its heart.
The airline will attract international tourists to
see and experience Saudi Arabia’s cultural and natural places.
The establishment of Riyadh Air is part of Saudi
Vision 2030 to help drive the diversification of the local economy.
Source:
https://www.zawya.com/