LBCI

Saudi Arabia launches new national airline

Middle East

14-03-2023 | 06:36

Share

Share

Saudi Arabia launches new national airline

2^min

Saudi Arabia's Crown Prince Mohammed bin Salman formally announced on Sunday the creation of a new national airline, Riyadh Air, with industry veteran Tony Douglas as its chief executive, as the kingdom moves to compete with regional transport and travel hubs.

Riyadh Air will will serve more than 100 destinations around the world by 2030, making use of the kingdom's location between Asia, Africa and Europe, state news agency SPA said.

The new airline is expected to add $20 billion to Saudi Arabia's non-oil GDP growth and create more than 200,000 jobs both directly and indirectly, it said.

The announcement may lead to a tougher battle for passengers, going head-to-head with regional giants Emirates, Qatar Airways and Turkish Airlines as the travel industry recovers from the pandemic.

Riyadh Air is wholly owned by Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), which has more than $600 billion in assets and is the main driver of the kingdom's efforts to diversify its economy and wean itself off oil.

In October, Saudi Arabia was in advanced negotiations to order almost 40 A350 jets from Airbus, with Boeing Co also lobbying for a slice of the kingdom's transportation expansion, industry sources had told Reuters.

The head of state-owned Saudi Arabian Airlines (Saudia) told Reuters at the time that it was in talks with Boeing and Airbus on orders both for itself and a planned new carrier.

Saudi Arabia

KSA

Launches

New

National

Airline

Crown

Prince

Mohammed Bin Salman

Riyadh Air

Saudia

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

Hezbollah's Naim Qassem: The world can attest that Lebanon has respected the ceasefire

2025-04-28

Hezbollah's Naim Qassem: The world can attest that Lebanon has respected the ceasefire

Sources to LBCI: Lebanon to hold key meeting on US proposal response at Baabda Palace

12:36

Sources to LBCI: Lebanon to hold key meeting on US proposal response at Baabda Palace

At least 400,000 people at Vatican, line Rome streets for Pope Francis' funeral

2025-04-26

At least 400,000 people at Vatican, line Rome streets for Pope Francis' funeral

Israeli drone targets forested area in Nabatiyeh El Faouqa, South Lebanon

2025-05-29

Israeli drone targets forested area in Nabatiyeh El Faouqa, South Lebanon

Videos

Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district

2025-07-01

Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district

Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)

2025-06-10

Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)

Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties

2025-06-04

Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties

President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels

2025-05-19

President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels

LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future

2025-05-15

LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future

Kuwait rolls out official welcome for Lebanon's President Aoun – video

2025-05-11

Kuwait rolls out official welcome for Lebanon's President Aoun – video

Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers

2025-05-11

Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers

EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview

News Bulletin Reports

2025-05-09

EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview

US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads

2025-04-23

US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads

Most read

24 hours

7 days

Month

Reuters: Hezbollah considering scaling back its arsenal

1

Reuters: Hezbollah considering scaling back its arsenal

Future of Hezbollah's arsenal: US envoy's visit nears as Lebanon finalizes response to US proposal

2

Future of Hezbollah's arsenal: US envoy's visit nears as Lebanon finalizes response to US proposal

Amal Movement demands Israeli withdrawal, rejects political conditions tied to reconstruction

3

Amal Movement demands Israeli withdrawal, rejects political conditions tied to reconstruction

Trump-Netanyahu talks loom: Syria sets conditions for recognizing Israel

4

Trump-Netanyahu talks loom: Syria sets conditions for recognizing Israel

Israeli army says it killed Lebanese operative linked to Iran's Quds Force

5

Israeli army says it killed Lebanese operative linked to Iran's Quds Force

Sources to LBCI: Lebanon to hold key meeting on US proposal response at Baabda Palace

6

Sources to LBCI: Lebanon to hold key meeting on US proposal response at Baabda Palace

Gasoline prices drop, gas price rises in Lebanon

7

Gasoline prices drop, gas price rises in Lebanon

UNFPA donates medical equipment to support Lebanon’s primary healthcare system

8

UNFPA donates medical equipment to support Lebanon’s primary healthcare system

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More