Saudi Arabia has launched a new national carrier.
Riyadh Air is the new venture to be operated from Riyadh based King Salman International Airport as its hub and will connect the Saudi capital to over 100 destinations globally.
Saudi Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister and chairman of the Public Investment Fund (PIF) launched Riyadh Air on March 12.
According to a statement released, Riyadh Air is owned by PIF which is to be chaired by Governor of PIF Yasir Al-Rumayyan that aims to add US $20 billion to the kingdom’s non-oil GDP growth, with creating more than 200,000 direct and indirect jobs.
Tony Douglas became the chief executive officer who has over four decades of aviation experience.
PIF Program is one of the Vision 2030 realisation programmes aiming to enable many promising sectors and contribute to increasing local content by creating partnerships with the private sector unlocking the capabilities of promising sectors that can help drive the diversification of the local economy.
PIF also launched a strategic plan to develop the world’s largest downtown in Riyadh by 2030.
Saudi Arabia is becoming liberal and is closing its 30-year-long chapter of being influenced by an ultra-conservative interpretation of Islam and being closed from the rest of the world.
Therefore, the government has implemented a set of massive social and economic reforms to achieve the Kingdom’s Vision 2030 targeting foreign tourism and allowing investment.
Saudi women were given their full legal rights in driving, equal pay, in entertainment making Hijab no more compulsory. Women were appointed in senior roles in government and private sector (as ambassadors, CEOs, spokespersons, and even in the military).
Saudi Arabia has heavily invested in renewable energy to increase non-oil revenues.