The Public Investment Fund is looking to launch a new airport, new airline service to better serve tourists and business travellers alike.
Although no plans have yet officially been announced by Saudi Arabia’s Public Investment Fund, it has been revealed by people familiar with the matter that the country is considering building a new airport in the capital city of Riyadh. Should the plans take off, the airport would serve as a base for a new airline that the PIF is looking to launch. The $430bn fund commented earlier this year that it plans to invest in aviation to help capture the tourism boost that was envisioned by Crown Prince Mohammed Bin Salman.
The new airline, which was reported locally earlier this year, will serve tourists and business travellers alike. Existing flag carrier Saudia will focus on religious tourism from its base in Jeddah.
The project, which is still in early stages of development, will continue to further Saudi Arabia’s goal to attract 100 million tourists a year by the year 2030.
