RIYADH: His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister and Chairman of the Public Investment Fund (PIF), announced today the establishment of Riyadh Air, a PIF wholly owned company. The new national carrier will leverage Saudi Arabia’s strategic geographic location between the three continents of Asia, Africa and Europe, enabling Riyadh to become a gateway to the world and a global destination for transportation, trade, and tourism.
The airline will be led by His Excellency Yasir Al-Rumayyan, the Governor of PIF, and Tony Douglas, a veteran with over 40 years of experience in aviation, transportation, and logistics, will serve as the Chief Executive Officer. The airline’s management team will comprise both Saudi and international experts.
Operating out of Riyadh, the airline is set to transform the global travel and aviation industry. It will prioritize sustainability and safety, equipped with state-of-the-art technology on its advanced fleet of aircraft. By 2030, the airline aims to connect customers to over 100 destinations worldwide while providing a warm Saudi hospitality experience.
The establishment of Riyadh Air is expected to add USD 20 billion to non-oil GDP growth and create over 200,000 direct and indirect jobs. As a PIF subsidiary, the airline will benefit from the investment expertise and financial capabilities of the company and expand its operations to become a leading national carrier. This move is part of PIF’s ongoing efforts to diversify the economy and support Vision 2030.
Moreover, Riyadh Air will serve as a catalyst for the Saudi National Transport and Logistics Strategy and the National Tourism Strategy, increasing air transport options, raising cargo capacity, and growing international passenger traffic. Tourists from all over the world will have the opportunity to visit Saudi Arabia’s cultural and natural attractions.
Riyadh Air is poised to revolutionize the aviation industry by offering world-class services, prioritizing sustainability and safety, and creating job opportunities for the Saudi population.