Saudi Arabia’s New Airline ‘RIA’ Reportedly to Launch Soon with $30 Billion to Take On Regional Rivals | SUSTG.com – News, Analysis, and Features on all things Saudi Arabia

Saudi Arabia is in the final stages of launching its multi-billion-dollar new international airline, which sources say is likely to be branded “RIA,” according to an exclusive Arabian Business report.

The Kingdom has been working on the launch for the past 12 months, with the new venture backed by Saudi Arabia’s Public Investment Fund.

Per Arabian Business:

“Sources close to the PIF told Arabian Business that “RIA” is being tipped as the name for the new carrier. Once launched, it will become Saudi’s second national carrier, based out of Riyadh. The current SAUDIA operates from Jeddah.

“Part of the blueprint for the country’s Vision 2030 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.”

In November, Saudi Arabia is set to launch a new event, the Saudi Airport Exhibition, which organizers are billing as the largest dedicated event for airport development in Saudi Arabia.

The event coincides with the Future Airport Development Summit in November. The exhibition will be held at Al Faisaliah Hotel from November 7-8.

Saudi Arabia has earmarked $147 billion to enhance its airport facilities to serve 330 million air travellers by 2030, expand its transport sector and boost plans to launch a new national airline alongside the established Saudia, Flynas and Flyadeal.

[Click here to read the full report on Arabian Business]