His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister and Chairman of the Public Investment Fund (PIF) just announced the launching of a new national airline Riyadh Air. Wholly owned by PIF, Riyadh Air will leverage Saudi Arabia’s strategic geographic location between the three continents of Asia, Africa and Europe, enabling Riyadh to become a gateway to the world and a global destination for transportation, trade, and tourism.
Riyadh Air will be chaired by His Excellency Yasir Al-Rumayyan, Governor of PIF, while Tony Douglas, will be its Chief Executive Officer. Douglas brings more than 40 years of experience in the aviation, transportation and logistics industries.
The newly established airline is expected to add US$20 billion to non-oil GDP growth, and create more than 200,000 direct and indirect jobs.
