The Public Investment Fund (PIF) has launched a new airline called Riyadh Air, which has placed a multi-billion dollar order for up to 72 Boeing 787-9 Dreamliner aircraft, with 39 confirmed orders and an option to acquire 33 more. This move is aimed at establishing Saudi Arabia as a global aviation hub and supports the kingdom’s goal of serving 330 million passengers and attracting 100 million visitors by 2030. The order will also help Riyadh Air to create one of the newest and most sustainable airline fleets in the world, while meeting noise regulations.
The new airline will connect millions of leisure and business travelers to over 100 destinations worldwide by 2030. The economic impact of the deal is expected to support nearly 100,000 direct and indirect jobs in the US and create over 200,000 direct and indirect jobs in Saudi Arabia, adding $20bn to non-oil GDP growth. Riyadh Air aims to be a digitally led full-service airline committed to sustainability and reflecting Saudi Arabia’s transformative projects under Vision 2030.