Prince Mohammed 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 adopted 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 CEO of the company, who has more than 40 years of experience in the transport, aviation and logistics sector, according to the news agency. Saudi Arabia, SPA.
As a company wholly owned by the Public Investment Fund, the fund’s financial capabilities and investment expertise will enable the company to expand its operations in a way that supports its future plans to be a leading national and global company in the aviation sector.
To enrich the passengers’ experience, “Riyadh Airlines” aims to launch flights to more than 100 destinations around the world by 2030, and will provide exceptional levels of integrated services, mixed with the authentic Saudi hospitality.
The launch of “Riyadh Air” will also contribute to providing more opportunities for tourists and visitors from all over the world to reach the most beautiful tourist and natural sites in the Kingdom, to form a new era in the field of travel and aviation, by increasing air transport options coinciding with the increase in the number of passengers to and from the Kingdom, and raising The capacity for transportation, shipping and strategic logistics services, which contributes to attracting the movement of international travelers and linking between different continents of the world, so that the city of Riyadh will be a gateway to the world, and a global destination for transport, trade and tourism, thus contributing to achieving the goals of the national strategy for transport and logistics services in the air transport sector.
The establishment of “Riyadh Air” comes in line with the strategy of the Public Investment Fund to unleash the potential of promising sectors locally to support the diversification of the economy. Direct and indirect job opportunity.
Riyadh Airlines and King Salman International Airport are among the latest investments of the Public Investment Fund in the aviation sector, which aim to raise the financial sustainability of the aviation sector system and enhance its global competitiveness in order to achieve the goals of Saudi Vision 2030.