Commercial plane – illustration photo.
Riyadh – Saudi Crown Prince Muhammad bin Salman announced the launch of the new national airline Riyadh Airlines. This was reported by the Saudi Arabian agency SPA. The airline is expected to serve more than a hundred destinations around the world by 2030, while taking advantage of the kingdom's location between Europe, Asia and Africa.
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It is estimated that 200,000 direct and indirect jobs will be created thanks to the new airline. Riyadh Airlines should contribute $20 billion (CZK 444.2 billion) to the growth of the gross domestic product (GDP) from activities outside the oil sector.
The airline will be managed by Tony Douglas, the former head of Etihad Airlines. The company will be based in the metropolis of Riyadh. It is owned by the Saudi Arabian state investment fund PIF. The fund has assets worth more than $600 billion and is the main driver of the kingdom's efforts to diversify its economy and move away from oil.
The new airline could face tough competition for passengers from regional leaders such as Emirates, Qatar Airways and Turkish Airlines, Reuters wrote.
