Saudi Arabia establishes PIF-owned new national airline ‘Riyadh Air’

Saudi Arabia establishes PIF-owned new national airline ‘Riyadh Air’

His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister and Chairman of the Public Investment Fund (PIF), has established ‘Riyadh Air’.

As a wholly owned PIF subsidiary, the new airline will leverage Saudi Arabia’s 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.

Riyadh Air will be chaired by His Excellency Yasir Al-Rumayyan, Governor of PIF, while Mr. 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.

Operating from Riyadh as its hub, the airline will usher in a new era for the travel and aviation industry globally. Riyadh Air will be a world-class airline, adopting the global best sustainability and safety standards across its advanced fleet of aircraft equipped with the latest cutting-edge technology. The airline is expected to add $20 billion to non-oil GDP growth, and create more than 200,000 direct and indirect jobs.

The new national airline is set to benefit from PIF’s investment expertise and financial capabilities while expanding the company’s operations