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The economic outlook of the Kingdom of Saudi Arabia has changed significantly in recent years, as it began to shift from an oil-based economy to a multiple and diversified economy based on investments in various fields, due to the importance of the aviation sector, which is due to the expansion of the Kingdom’s area and the high competitiveness that exists in the Arabian Peninsula region with the presence of giant airlines such as Qatar Airways, Emirates Airways, Etihad Airways, and many others, The KSA planned and began establishing a competing airline under the name Riyadh Air.
Reasons for the success of the Riyadh Aviation project:
There are several factors that will collectively contribute to the success of the future Saudi aviation project, to name a few:
- Provides the capabilities required and And provides official support for the success of the project.
- Providing the necessary expertise, as the Kingdom has more than one Saudi air carrier, and therefore the expertise required to deal with the new huge project is available.
-The Kingdom's vast area and its important geographical location as a link between the continents.
- Availability of appropriate infrastructure, there are more than fifty domestic, international and regional airports in the Kingdom of Saudi Arabia (KSA).
Current airlines in Saudi Arabia:
The Kingdom of Saudi Arabia currently owns four airlines: Saudi Arabian Air, which is the first and largest airline in the Kingdom, and Flynas, a low-cost airline with more than 70 domestic and international destinations, Al Maha Airways, it is an airline owned by Qatar Airways that operates in the field of aviation within the Kingdom of Saudi Arabia, and the Saudi Gulf Air Company.
The goal is to establish a new airline, the fifth in the Kingdom:
What is new about Riyadh Airlines is global competition with the best companies in the world, thus, revenues are gradually diversified to dispense with oil and this is a big change after Saudi Airlines was the only air carrier in the Kingdom for about fifty years.
The opinion of the rest of the Gulf countries regarding the establishment of a new airline in the region is fiercely competitive:
The countries of the region welcomed the new Saudi project, which will reflect positively on the region by strengthening its aviation sector and thus establishing a region that owns a large number of airline companies at the global level such as: Qatar Airways, Emirates Airlines, and Etihad Airways.
Riyadh Air was established in the current year 2023, by the Saudi sovereign wealth fund and will begin its flights in 2025 upon receiving the first batch of aircraft, the company will include 100 Boeing 737 MAX aircraft as a first stage to cover about 100 destinations around the world, taking care to apply the highest levels of global sustainability and safety the colour violet was adopted, which is the colour of a flower that grows in Saudi Arabia in the spring called lavender.
The Kingdom of Saudi Arabia is witnessing a number of giant projects within Saudi Vision 2030, the vision of moving the Kingdom from an oil-only strategy to a diversified global economy through which the Kingdom will intervene strongly in various fields through massive investments that include many fields.