| It is reported that Saudi Arabia has been working on the new airline for 12 months and the new venture is backed by Saudi Arabia’s Public Investment Fund (PIF). Sources close to the PIF told Arabian Business that “RIA” would be the name of the new carrier. The name ‘RIA’ was submitted to the PIF as the preferred option, although the final decision is likely to be made by Crown Prince Mohamed Bin Salman |
Air: a key pillar
Riyadh International Airlines (RIA) would be an important pillar of Saudi Arabia’s planned tourism development. The plan is to reach the size of Emirates within seven years, they say. Competitors Emirates, Etihad and Qatar Airways have already complained of generous state aid. But with RIA these reach completely different dimensions
An investment of 100 billion during the first 8 years
One of Saudi Arabia’s goals for Vision 2030 is a $100 billion investment in the aviation sector over the next eight years, the bulk of which will go towards establishing a new national carrier serving global routes. The country aims to serve at least 30 million travelers a year, up from 4 million currently, and hopes to launch operations with the new airline in the fourth quarter of 2022. According to a report by Arabian Business, the country is targeting more than 150 routes to across 80 countries.
It is obvious that air carriers in the Middle East observe
When Saudi Arabia first hinted at the creation of a new global airline, the kingdom plans for RIA to take on major powerhouse carriers in the Middle East like Emirates, Etihad and Qatar Airways.
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