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Saudi Arabia will create a new airline, Riyadh Air

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Saudi Arabia has announced the creation of a new state-owned airline, Riyadh Air, the Washington Post reported, citing Saudi media. The new carrier is to take advantage of Saudi Arabia’s strategic geographic location and fly to 100 destinations around the world by 2030.

The creation of the new lines was announced by Saudi Crown Prince and Crown Prince Muhammad bin Salman on Sunday, March 12. The Saudi news agency SPA, quoted by the Washington Post, said that “this will be a world-class airline, adopting the world’s best sustainability and safety standards.” Headquartered in the capital, Riyadh, Riyadh Air aims to fly to 100 destinations around the world by 2030.

Saudi Arabian Airlines plane at Riyadh airportShutterstock

The new lines will take advantage of Saudi Arabia’s “strategic location” between Europe, Africa and Asia and will be entirely owned by the government’s Public Investment Fund, livemint.com reported. According to the Saudis, Riyadh Air will contribute to “magnification GDP non-oil” by $20 billion and will create more than 20,000 jobs.

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However, the new airlines will have to compete with other strong airlines from the region, such as Emirates and Qatar Airways. Riyadh Air will also come to compete with the existing Saudi carrier, Saudia. The “Washington Post” also draws attention to other types of difficulties that a country criticized for, among others, may encounter. for its approach to women’s rights. Current Saudi airlines do not serve alcohol on their flights, while Emirates is known for its wide selection of wines, travel industry analyst Henry Harteveldt told WaPo as an example.

SEE ALSO: Surprising decision by Saudi Arabia. Strong stock market reaction

Oil Saudi Arabia

Saudi Arabia wants to increase budget revenues from sources other than the export of natural resources, primarily oil. Like its resource-rich neighbors, it wants to diversify its economy and reduce its dependence on revenues from fossil fuel exports.

Oil in the worldPAP

SEE ALSO: Holidays more expensive by up to a thousand zlotys. One direction is making a comeback

Washington Post, livemint.com, tvn24.pl

Main photo source: Shutterstock

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