With Tony Douglas as CEO, Saudi Arabia announces the start of Riyadh Air paving way for 200,000 new jobs
The Public Investment Fund’s (PIF) Chairman and Crown Prince Mohammed bin Salman bin Abdulaziz, who is also the country’s prime minister, made the announcement about the launch of Riyadh Air, a PIF-owned corporation.
The new national carrier will take advantage of Saudi Arabia’s advantageous geographic positioning between Asia, Africa, and Europe to make Riyadh a gateway to the world and a major hub for travel, commerce, and tourism.
Yasir Al-Rumayyan, the governor of PIF, will serve as the company’s chairman, and Tony Douglas, who has more than 40 years of expertise in the aviation, transportation, and logistics sectors, has been named CEO. Saudi and international experience will be present in the airline’s senior administration. The airline, which has Riyadh as its hub, will start a new period for the global travel and aviation industries.
The world’s finest sustainability and safety standards will be adopted by Riyadh Air’s advanced fleet of aircraft, which will be outfitted with the most cutting-edge technology. The airline is anticipated to boost non-oil GDP growth by $20 billion and generate more than 200,000 direct and indirect employment opportunities. The new national airline will profit from PIF’s investment know-how and financial resources as a fully owned subsidiary while growing the business to become a major national carrier.
By 2030, Riyadh Air hopes to improve the travel experiences of its passengers while connecting them to more than 100 locations around the globe by providing an outstanding service with genuine, cordial Saudi hospitality at its core. The airline will make it possible for visitors from all over the globe to enjoy Saudi Arabia’s cultural and natural attractions. By expanding air travel choices, raising cargo capacity, and ultimately increasing international passenger traffic, Riyadh Air will also act as a catalyst for the Saudi National Transport and Logistics Strategy and the National Tourism Strategy.
The launch of Riyadh Air is a component of PIF’s plan to develop potential industries so they can support the development of the local economy.
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