The new carrier will be called Riyadh Air. The company aims to improve connectivity between Saudi Arabia and the three continents on which it is located: Asia, Europe and Africa, Al Arabiya reported. The airline is expected to add $20 billion to the national GDP and create more than 200,000 direct and indirect jobs, the State Investment Fund (PIF) said in a statement. By 2030, it will serve more than 100 destinations worldwide. Riyadh Air will be based in the capital and 100% owned by PIF.
Yasser bin Osman al-Rumayyan, director of the Public Investment Fund, will head the company’s board. The airline’s senior management will include both Saudis and expatriates. The announcement follows the unveiling in November 2022 of a master plan for a major new airport in Riyadh, King Salman International Airport.
