Saudi Arabia Crown Prince and Prime Minister Mohammad Bin Salman announced on Sunday the establishment of Riyadh Air, a wholly owned company by Saudi’s Public Investment Fund (PIF). Riyadh will be the company’s operational hub, and will connect the Saudi capital to over 100 destinations around the world by 2030.
The new carrier carrier has chosen Boeing’s 787 Dreamliner to power its global launch and support its goal of operating one of the most efficient and sustainable fleets in the world. 39 highly efficient 787-9s will first be delivered, with options for an additional 33 787-9s.
Riyadh Air will play a key role in growing Saudi Arabia’s air transport network. With the strategic geographic location between the three continents of Asia, Africa and Europe, enabling Riyadh to become a gateway to the world and a global destination for transportation, trade, and tourism.
The airline will be chaired by His Excellency Yasir Al-Rumayyan, Governor of PIF, while Tony Douglas, who brings more than 40 years of experience in the aviation, transportation and logistics industries, has been appointed Chief Executive Officer. The airline’s senior management will include Saudi and international expertise.
Riyadh Air will provide tourists from around the world the opportunity to visit Saudi Arabia’s cultural and natural attractions. The airline aims to enhance customers’ journey while connecting them to over 100 destinations around the world by 2030.
The airline is expected to add USD20 billion to non-oil GDP growth, and create more than 200,000 direct and indirect jobs.