Saudi Crown Prince Mohammed bin Salman announced this morning that Saudi Arabia intends to launch a second national airline as part of its plan "to consolidate its position as a global logistics center," according to the official news agency "SPA".
In a related context, SPA quoted the Crown Prince as saying during his launch of the "National Strategy for Transport and Logistics Services" that "the strategy aims to advance the Kingdom of Saudi Arabia to become the fifth globally in air transport traffic, and to increase destinations for more than 250 international destinations, along with Launching a new national carrier.
In this regard, he added that this strategy also aims to "increase the capabilities of the air freight sector by doubling its capacity to reach more than 4.5 million tons." The Crown Prince did not specify when the new company would see the light of day.
An investment program to improve the economy and aviation situation in Saudi Arabia
And "Saudi Arabian Airlines", the Saudi national carrier, has been incurring losses for years and is facing increasing competition from regional airlines such as "Emirates Airlines" and "Qatar Airways", which have a larger network of airlines.
Saudi Arabia is implementing an ambitious investment program as part of its efforts to diversify its oil-reliant economy.
The kingdom plans to build a new airport in the capital, Riyadh - where the new airline will be based - to accommodate international tourists and businessmen, according to Bloomberg News.