Raed Ismail, director of the Department of Direct Investment in Middle East and North Africa at the Public Investment Fund (PIF), said the launch of “Riyadh Airlines” coincides with the Kingdom’s goal of attracting 100 million tourists a year by 2030.
In an interview with Al-Arabiya, Ismail said that having a national carrier based in Riyadh helps facilitate access to and from the Saudi capital.
Ismail added that the aviation sector is one of the strategic sectors of the Public Investment Fund, stressing that the fund does not only look at the establishment of the company, but looks at the system as a whole.
He continued, “King Salman Airport is also part of the aviation sector development fund system, in addition to the company (AviLease), which has been formed, and to invest in the general aviation sector.”
He revealed that during the next period “Riyadh Airlines” will conclude agreements for the purchase of new aircraft.
Prince Muhammad bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister and Chairman of the Board of 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 the enhancement of the strategic position of the Kingdom, which connects three of the most important continents in the world; Asia, Africa and Europe, and work to enhance the competitiveness of domestic enterprises in compliance with Saudi Vision 2030 objectives.
The company, which is based in the capital Riyadh, as the main center for managing its operations and starting point for its flights, owning a fleet of state-of-the-art aircraft, through which it aims to implement the best international safety practices and sustainability adopted in aviation, as well as providing the latest digital technologies for leadership in this field.
Riyadh Airlines will be led by a 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, which has more than 40 years of experience in the transport, aviation and logistics sectors.
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