Raed Ismail, Director of the Direct Investments Department in the Middle East and North Africa at the Public Investment Fund (PIF), said that the launch of “Riyadh Airlines” coincides with the Kingdom’s goal of attracting 100 million tourists annually by 2030.
In an interview with Al-Arabiya, Ismail said that the presence of a national carrier based in Riyadh contributes to facilitating access to and from the Saudi capital.
Ismail added that the aviation sector is one of the strategic sectors of the Public Investment Fund, pointing out that the fund does not only look at the establishment of the company, but also looks at the system as a whole.
He continued, “King Salman Airport is also part of the fund’s system for the development of the aviation sector, in addition to the company (AviLease), which was established, and to invest in the general aviation sector.”
He revealed that during the coming period, “Riyadh Airlines” will conclude deals to purchase new aircraft.
Prince Muhammad bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister and Chairman of the Board of Directors of the Public Investment Fund, announced the establishment of the Public Investment Fund for “Riyadh Airlines”, the new national air carrier, to contribute to the development of the air transport sector and to enhance the Kingdom’s strategic position, which It connects three of the most important continents of the world; Asia, Africa and Europe, and work to raise the competitiveness of national companies in accordance with the objectives of Saudi Vision 2030.
The company, which is based in the capital, Riyadh, as a main center for managing its operations, and a starting point for its flights, by owning a fleet of advanced aircraft, through which it aims to implement the best international safety and sustainability practices approved in the field of aviation, in addition to providing the latest digital technologies for leadership in this field.
Riyadh Airlines will be led by an elite group of local and international experts, and its board of directors will be chaired by the Governor of the Public Investment Fund, Yasser bin Othman Al-Rumayyan, while Tony Douglas has been appointed as CEO of the company, who has more than 40 years of experience in the transportation, aviation and logistics sectors.