JEDDAH – Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Sunday, March 12, the inauguration of a new national airline, Riyadh Air, with industry veteran Tony Douglas as its chief executive, as the Kingdom moves to compete with regional transport and travel hubs.
The PIF-owned Riyadh Air is set to expand the Kingdom’s aviation ecosystem locally and globally.
Saudi Crown Prince Mohammed bin Salman bin Abdulaziz, Prime Minister and Chairman of the Public Investment Fund (PIF) announced the establishment of the airline, which is set to connect the Saudi capital to 100 destinations globally by 2030.
The new national carrier will further expand the L=Kingdom’s aviation ecosystem locally and globally. The airline will also leverage Saudi’s strategic location and aim at enabling the capital to become a gateway and global destination.
Riyadh Air will use a modern aircraft equipped with the latest technology combined with world-class sustainability and safety practices.
Tony Douglas has been appointed CEO to bring over 40 years of industry experience to the carrier. The airline will be chaired by Yasir Al-Rumayyan, Governor of PIF.
Riyadh Air will operate from the capital city and is expected to add create 20,000 direct and indirect jobs expected to add $20 billion to the country’s non-oil GDP.
Backed by PIF, the wholly-owned subsidiary will benefit from PIF’s investment and financial assets and represent the investment firm’s latest investment alongside the recently announced King Salman International Airport.
Additional to increasing passenger traffic and enhancing global connectivity, the airline will raise cargo capacity.
The move is in line with Saudi Arabia’s Vision 2030 and is in support of the industry’s global competitiveness.
Riyadh Air will serve more than 100 destinations around the world by 2030, making use of the Kingdom’s location between Asia, Africa and Europe, state news agency SPA said.
