Saudi Arabia has Riyadh Air as the kingdom seeks to develop into a global transport and logistics hub as part of its aviation strategy and push to diversify its economy from oil. As the world moves towards green energy, the country risks losing 30 - 40% of its GDP, and is looking to invest its way out of the resource curse!
Governor of Saudi Arabia's Public Investment Fund (PIF)'s Yasir Al Rumayyan will chair the new airline, while former Etihad Airways boss Tony Douglas is chief executive The new carrier will be wholly owned by PIF, which has about $620 billion in assets under management and backs strategic sectors central to the kingdom's economic diversification plans.
Saudi Arabia's second national carrier will connect the capital Riyadh to more than 100 destinations around the world by 2030, leveraging the country's strategic geographic location between Asia, Africa and Europe, the PIF said.
Riyadh Air is expected to contribute 75 billion Saudi riyals ($20 billion) to the country's non-oil gross domestic product growth and to create more than 200,000 direct and indirect jobs
The country's Saudi Aviation Strategy calls for tripling annual passenger traffic to 330 million by 2030, boosting the number of destinations to 250 from 99 at present and establishing a new flag carrier. This strategy is backed by $100 billion in investments from the government and private sector. Saudi Arabia is currently home to Jeddah-based national carrier Saudia and its low-cost subsidiary flyadeal.
Saudi Arabia's Crown Prince Mohammed bin Salman last November announced that a new airport will be opened in the capital Riyadh with six parallel runways designed to accommodate up to 120 million travellers by 2030.
Bu hikaye Cruising Heights dergisinin October 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Cruising Heights dergisinin October 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Adani Airport Thales Forge Strategic Partnership to Improve Airport Operations and Passenger Experience in India
Adani Airport Holdings Limited (AAHL), the largest private airport operator in India, and Thales, a global leader in advanced technologies, today announced a strategic partnership to revolutionise AAHL’s international airport operations and passenger experience across the country.
ADVANCING AIR MOBILITY OVERCOMING CHALLENGES, SEIZING OPPORTUNITIES
Advanced Air Mobility (AAM), as analysed by M P RAJASEKHARAN, explores solutions for reducing urban congestion and enhancing access to remote locations through sustainable, automated air transport systems, addressing key challenges and future opportunities in this evolving sector.
ON THE CUSP OF GROWTH
The growth of regional airlines in India will increase the market for regional jetliners.
BOEING STRIKE DISRUPTS INDIAN CARRIERS' EXPANSION PLANS
The Boeing machinist strike has stalled aircraft deliveries, directly affecting Akasa Air and Air India Express, both of which are now facing delays in their fleet expansion efforts, highlights
REGIONAL AIRPORTS MUSHROOMING WITH CHALLENGES GALORE
Karnataka's push for regional air connectivity has led to a surge in airport infrastructure, yet many of these airports face challenges like fluctuating demand and limited flight frequencies. While the UDAN scheme has supported growth, the long-term viability of several regional airports remains uncertain, highlights
'PHARMACY OF THE WORLD' SUPPLY CHAIN WOES
India's pharmaceutical sector, has achieved remarkable growth, but faces significant supply chain hurdles, including high logistics costs and limited cold chain facilities. Addressing these challenges is essential to sustain its global impact and future expansion, reports
BUMPER WINTER AHEAD FOR INDIAN CARRIERS
The DGCA's winter 2024 schedule approves 25,007 weekly flights, marking growth for Indian carriers, with Air India Express leading in expansion and Vistara set to merge with Air India, analyses
AIRPORT ADVANCEMENT
Indian airports are placing a greater emphasis on digitalisation and enhancing their eco-friendly credentials, updates
THROTTLING AHEAD
The situation with the grounding of Pratt & Whitney GTF engines is now trending downwards, a report
Connecting cities to airports HELI-TAXIS ARE OUT, AIR TAXIS ARE IN
As heli-taxis falter, electric air taxis promise to transform urban connectivity. Yet, scalability, regulations, and operational challenges must be overcome for them to deliver efficient, affordable city-airport travel, reviews
