His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister and Chairman of the Public Investment Fund (“PIF”), today announced the formation of Riyadh Air, a new PIF-owned national carrier. The airline will serve as Saudi Arabia’s gateway to the world, connecting Riyadh to over 100 destinations globally.
To bring this vision to life, Riyadh Air is set to acquire modern aircraft equipped with the latest technology and adhere to world-class safety and sustainability standards.
The launch of Riyadh Air comes in line with PIF’s mandate to further enable the aviation ecosystem in Saudi Arabia. It is expected that more than 200,000 direct and indirect jobs will be created due to its establishment, while its comprehensive network of international routes is forecasted to contribute an additional USD20 billion towards non-oil GDP growth.
The carrier will also facilitate travel opportunities for people around the world, who are keen on exploring Saudi Arabia’s cultural and natural attractions.
Riyadh Air seeks to provide customers with an exceptional experience at its heart; one where they can enjoy warm Saudi hospitality throughout their journey. Furthermore, it has been identified as a key enabler of both the National Tourism Strategy and National Transport and Logistics Strategy; increasing air transport options available and cargo capacity while simultaneously boosting international passenger traffic.
In conclusion, the formation of Riyadh Air stands as a testament to PIF’s investment expertise and financial acumen; driving diversification efforts in the local economy whilst helping enhance global competitiveness in accordance with Vision 2030 objectives. As such, it marks a pivotal moment for both travelers from abroad looking to explore Saudi Arabia’s many offerings as well as for locals seeking greater access to worldwide destinations through Riyadh Air’s ever-expanding network of connections.