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Saudi Crown Prince announces launch of a new national carrier

Saudi Crown Prince Mohammed bin Salman on Sunday announced the creation of a new national airline “Riyadh Air,” wholly owned by the Public Investment Fund.
The airline seeks to enable Riyadh to become a gateway to the world and a global destination for transportation, trade, and tourism.
The airline will be chaired by PIF Gov. Yasir Al-Rumayyan while Tony Douglas has been appointed its chief executive officer, said a statement issued by the Saudi sovereign wealth fund.
Operating from the Saudi capital as its hub, the airline is expected to add $20 billion to the Kingdom’s non-oil gross domestic product growth and create more than 200,000 direct and indirect jobs.
“The new national airline represents PIF’s latest investment in the sector,along with the recently announced King Salman International Airport masterplan,” the statement added.

Source
arabnews

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