Saudi Arabia is about to launch a new multi-billion-dollar international airline which will become the kingdom精东影业 second national carrier, according to local outlet .
It is reported that Saudi Arabia has been working on the new airline精东影业 for the past 12 months, and that the new venture is backed by Saudi Arabia精东影业 Public Investment Fund (PIF).
Sources close to the PIF told Arabian Business that 鈥淩IA鈥 is being tipped as the name for the new carrier. The name 鈥楻IA鈥 has been submitted to the PIF as a preferred option, though the final decision is likely to be made by Crown Prince Mohamed Bin Salman.
Saudia vs RIA: What is the difference?
The kingdom plans to make Riyadh the new carrier精东影业 city base, with the city of Jeddah being the base headquarters of Saudia, current national carrier.
Saudia精东影业 current focus is the religious traffic market, bringing pilgrims to Saudi Arabia精东影业 holy sites, especially during the Hajj pilgrimage.
A challenger for Emirates, Etihad and Qatar Airways?
According to , when Saudi Arabia first hinted at creating a new global airline, the kingdom plans for RIA to take on major Middle Eastern powerhouse carriers like Emirates, Etihad, and Qatar Airways.
| Saudi Arabia is preparing to launch a New airlines worth 30 billion bears the name ““, supported by the Public Investment Fund ““.
鈥 Aviation Culture (@AviCultureEn)
One of Saudi Arabia精东影业 objectives for is a $100 billion investment in the aviation sector over the next eight years, the bulk of which will go towards establishing a new national carrier serving global routes.
鈥淲e are talking about a brand-new airline that aims to do what Emirates did in a quarter of the timescale. It精东影业 unprecedented in the history of aviation. It精东影业 also why they have yet to appoint a CEO 鈥 whoever takes this job will have to deliver the most ambitious targets you can imagine,鈥 a source told Arabian Business.
鈥淩ight now, about 60% of all air traffic into Saudi comes from the Middle East. Asia-Pacific is around 20 percent, Africa just 10 percent 鈥 this is where the huge potential is,鈥 the source added.
Saudi Arabia plans to target 30 million international transit passengers by 2030, compared to its current number of under 4 million.
