Investment fund

Crown Prince, Prime Minister and Chairman of the Board of Directors of the Public Investment Fund, Prince Mohammed bin Salman bin Abdulaziz Al Saud announced the establishment of the new national airline “Riyadh Airlines” Public Investment Fund. The development of the aviation sector and the enhancement of the Kingdom’s strategic position connecting three of the world’s most important continents; Asia, Africa and Europe, and work to enhance the competitiveness of national enterprises in line with the objectives of Saudi Vision 2030.

The company, based in the capital Riyadh, aims to implement best international safety and sustainability practices by owning a fleet of advanced aircraft as the main hub for managing its operations and the launch point for its flights. Recognized in the aviation industry for providing the latest digital technologies for leadership in the sector.

Riyadh Airlines will be led by an elite team of local and international experts, and its board of directors will be chaired by Yasser bin Othman Al-Rumayan, governor of the Public Investment Fund, while Tony Douglas has been appointed as the company’s CEO. He has over 40 years of experience in the transport, aviation and logistics industry, the news agency said. Saudi Arabia “SPA”.

As a wholly-owned public investment fund, the fund’s financial capabilities and investment expertise will enable it to expand its operations to support its future plans as a leading national and global company in the aviation industry.

To enrich the passenger experience, “Riyadh Airlines” aims to launch flights to more than 100 destinations worldwide by 2030 and provide exceptional integrated services, combined with authentic Saudi hospitality.

The launch of “Riyadh Air” will contribute to creating a new era in the travel and aviation industry, providing more opportunities for tourists and visitors from around the world to reach the Kingdom’s most beautiful tourist and natural sites. Increasing aviation options to accommodate the increase in the number of passengers traveling to and from the Kingdom and raising capacity for transport, shipping and strategic logistics services to attract international passenger traffic and connect the world’s continents. The city of Riyadh will be a gateway to the world and a global destination for transport, trade and tourism, thus contributing to the achievement of the goals of the National Strategy for Transport and Logistics Services in the aviation sector.

The establishment of “Riyadh Air” is in line with the strategy of the Public Investment Fund, which unleashes the potential of domestically promising sectors to support the diversification of the economy. Direct and indirect employment.

“Riyadh Aviation” and King Salman International Airport are among the latest investments of the Public Investment Fund in the aviation sector, which aims to raise the financial stability of the aviation sector system and improve its global competitiveness. 2030.

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