On Sunday, Crown Prince and Prime Minister Mohammad Bin Salman announced the creation of Riyadh Air, a new national carrier wholly owned by the Public Investment Fund (PIF). Riyadh Air is set to take advantage of Saudi Arabia’s strategic geographic location between Asia, Africa, and Europe, establishing Riyadh as a global transportation, trade, and tourism hub.
Yasir Al-Rumayyan, PIF Governor, will chair the airline, while Tony Douglas, with over 40 years of experience in the aviation, transportation, and logistics industries, has been named Chief Executive Officer. Riyadh Air’s senior management team will comprise both Saudi and international experts.
Riyadh Air will be headquartered in Riyadh and is expected to revolutionize the global travel and aviation industry. The airline will adhere to the highest sustainability and safety standards, with an advanced fleet of aircraft incorporating cutting-edge technology.
Riyadh Air is projected to contribute $20 billion to non-oil GDP growth and generate over 200,000 direct and indirect jobs. As a PIF subsidiary, it will benefit from the organization’s investment expertise and financial capabilities while expanding its operations to become a leading national carrier.
The establishment of Riyadh Air is part of PIF’s strategy to unlock the potential of promising sectors that can support the diversification of the local economy. It will contribute to a more financially resilient aviation ecosystem in Saudi Arabia, enhancing the industry’s global competitiveness in line with Vision 2030.
By 2030, Riyadh Air aims to connect travelers to over 100 destinations globally, offering an exceptional experience that embodies the warmth of Saudi hospitality. Additionally, the airline will provide tourists worldwide with an opportunity to explore Saudi Arabia’s cultural and natural wonders.
Riyadh Air will also serve as a catalyst for the Saudi National Transport and Logistics Strategy and the National Tourism Strategy by boosting air transport options, raising cargo capacity, and driving international passenger traffic.
