Riyadh: The Public Investment Fund plans to set up a large airline on par with the national carrier. According to reports, the new company will operate in both the domestic and international service sectors.
The Public Investment Fund (PIF) said the new company aims to provide more alternative options to air travelers. This will help to increase competition between companies, improve service quality and reduce rates. The Public Investment Fund said the benefit would be available to travelers.
The new company will be able to compete not only with Saudi Arabia but also with other major airlines in the region. The Public Investment Fund, along with other investment partners, will launch the new airline. The final draft of the company is yet to be released.
Saudi Arabia plans to increase the number of visitors to Saudi Arabia to 10 million per year by 2030. In this context, it is expected that there will be a huge leap forward in the aviation sector in the coming years. The establishment of a new airline will also increase the contribution of the aviation sector to the GDP.