Saudi Arabia officially launches new national carrier Riyadh Air

Etihad Aviation boss Tony Douglas named at CEO of new airline

12 March 2023 - 20:13Saudi Arabia’s Crown Prince Mohammed bin Salman formally announced on Sunday the creation of a new national airline, Riyadh Air, withTony Douglas as its CEO, as the kingdom moves to compete with regional transport and travel hubs.

The new airline is expected to add $20bn to Saudi Arabia’s non-oil GDP growth and create more than 200,000 jobs both directly and indirectly, it said. Riyadh Air is wholly owned by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, which has more than $600bn in assets and is the main driver of the kingdom’s efforts to diversify its economy and wean itself off oil.

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BDliveSA /  🏆 12. in ZA

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