New US$30 Billion Airline Saudi Airline ‘RIA’ Speculated to Launch in Q4
Middle East Media publication Arabian Business shared information about information it is said to have received on Saudi Arabia’s planned new airline;
- International Airline likely to be branded as “RIA” and be based out or Riyadh
- Backed by Saudi Arabia’s Sovereign Wealth Fund – ‘Public Investment Fund’ (PIF)
- Part of Saudi’s Vision 2030 $100 billion investment in the aviation sector economic blueprint
- Saudi Arabia is targeting 30 million international transit passengers by 2030, compared to under four million currently. Sources suggest this will mean the new carrier will eventually need to operate over 150 routes globally, across Europe, North America, South America, Africa and Asia, which necessitates $30 billion investment.
- “We are talking about a brand-new airline that aims to do what Emirates did in a quarter of the timescale. It’s unprecedented in the history of aviation. It’s also why they have yet to appoint a CEO – whoever takes this job will have to deliver the most ambitious targets you can imagine,” the source said.
Photo Credit: Riyadh Airport
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