Organized by Saudi Arabia’s General Authority of Civil Aviation (GACA), the third edition of the Future Aviation Forum, saw the signing of 102 MOUs, agreements and deals totaling over $21 billion along with numerous investment offers in the Saudi aviation sector valued at $100 billion.
Entitled “Elevating Global Connectivity,” the Future Aviation Forum held in Riyadh featured 26 exhibitors and 300 speakers across 73 different debate sessions. The sessions focused on topics such as human capabilities, the future of the sector, cooperation mechanisms, civil aviation network, sustainability, innovation, technology, and business opportunities in the sector. Close to 8,500 people attended the event including 31 ministers and 77 civil aviation agencies from 130 different countries.
King Salman bin Abdulaziz Al Saud, presided over the gathering, which took place from May 20 to May 22 and the forum was inaugurated by the Minister of Transport and Logistics Services and the Chairman of the GACA Board of Directors, Eng. Saleh Al-Jasser.
At the forum, GACA issued it’s first aviation sector report highlighting civil aviation’s $53 billion contribution to Saudi Arabia’s economy and the creation of 958,000 jobs across the Kingdom.
Of note, GACA issued a roadmap for general aviation, which aims to grow the business aviation and private aircraft sectors tenfold by 2030. Specifically to increase the sector’s contribution to gross domestic product to $2.08 billion and create 35,000 jobs by 2030.
“This includes allocating 6 airports for general aviation and 9 lounges in commercial airports, with expectations of creating 35,000 new jobs.
GACA signed air transport services agreements with Kiribati, Grenada, Malawi, Romania, Belize, Eritrea, Sao Tome and Principe, Lithuania, El Salvador, Albania, Uzbekistan, Mozambique, Eswatini, Cambodia, and Brunei Darussalam.”
Writing for The National, Deena Kamel adds that, “Infrastructure plans call for six private jet airports and nine dedicated terminals in commercial airports to improve connectivity. The increased airport capacity will accommodate the forecast growth of 24 business jets per 10,000 inhabitants (it was five jets in 2021) and for 90 per cent of the business jets owned by Saudis to be based in the kingdom rather than abroad. The idea is to attract business jet operators and owners to the kingdom, to stem the current “leakage” in lucrative general aviation services to other countries.”
One of the most notable highlights was Saudia Group’s announcement of the largest-ever aircraft deal in Saudi aviation history with the European aerospace major, Airbus. This landmark agreement includes the acquisition of 105 aircraft, comprising Airbus A320neo and A321neo models, thereby increasing Saudia Group’s Airbus order backlog to 144 A320neo family aircraft.
GACA President HE Abdulaziz Al-Duailej praised the forum’s outcomes, stating,
“The 2024 Future Aviation Forum has been an extraordinary event, exceeding all expectations. Over the past few days, we have witnessed groundbreaking commercial agreements, forward-thinking policy initiatives, and transformative partnerships that will undoubtedly enhance global aviation connectivity. “The deals and commitments made here represent a monumental vote of confidence in Saudi Arabia’s aviation sector and our vision to become a global leader in this vital industry.”
