News & Insights

Riyadh, Saudi Arabia: Saudi Arabia has announced the creation of a new national airline, part of a plan to turn Riyadh into a global aviation hub rivalling regional leaders such as Dubai and Doha.

Riyadh Air 'aims to launch flights to more than 100 destinations around the world by 2030', the official Saudi Press Agency (SPA) reported.

The Gulf kingdom is pursuing ambitious aviation goals as part of Crown Prince Mohammed bin Salman's wide-ranging 'Vision 2030' reform agenda, including more than tripling annual traffic to 330million passengers by the end of the decade.

It also wants to move up to five million tonnes of cargo each year.

Last November officials announced plans for a new airport in the capital Riyadh - spanning 57 square kilometres (22 square miles) - that is set to accommodate 120million travellers per year by 2030 and 185 million travellers by 2050.

The capacity of the existing Riyadh airport is around 35 million travellers.

The new airline is the latest in 'a huge package of projects' that will 'consolidate our country's position as an international hub for aviation and a global logistics centre', Saudi transport minister Saleh Al-Jasser said on Twitter.

Tony Douglas, former head of Abu Dhabi-based Etihad Airways, has been appointed CEO, SPA said.

Sunday's announcement said Riyadh Air would operate a 'fleet of advanced aircraft', but did not specify how big the fleet would be or from where it would be sourced.

The Wall Street Journal reported on Saturday that the Public Investment Fund, the sovereign wealth fund that will own the airline, was 'close to a deal' with Boeing for an aircraft order 'valued at $35 billion' (£28 billion).