Saudi Crown Prince Launches Riyad Air

Saudi Arabia’s new national airline, “Riyadh Air,” was unveiled by Crown Prince Mohammad bin Salman bin Abdulaziz.

As the Saudi Press Agency (SPA) reports, Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF), will be the company’s chairman.

According to SPA, the airline would be managed by a Saudi and international professional team.

Tony Douglas, a veteran of the shipping, logistics, and aviation sectors with more than four decades of experience, has been appointed chief executive officer of Riyadh Air. From January 2018 until October 2022, he led Etihad, a UAE-based airline.

The new Saudi national airline, Riyadh Air, will operate out of the country’s capital city, capitalizing on Saudi Arabia’s advantageous location to increase passenger connectivity to more than 100 locations by 2030. The airline’s launch is anticipated to increase non-oil GDP by $20 billion and generate over 200,000 new jobs directly and indirectly. At the same time, the company itself aspires to become a world-class carrier.

The Public Investment Fund (PIF) saw an opportunity to help diversify the Saudi economy by creating Riyadh Air to capitalize on growth in certain industries. This action is in keeping with Vision 2030’s objective of making the Saudi aviation industry more globally competitive.