Planes. Saudi Arabia wants to create a new carrier
Aim is to diversify the economy beyond oil
Saudi Arabia is seriously thinking about the creation of a new airline, a flag carrier that would become an integral part of a much larger plan of the Asian Kingdom in terms of local infrastructure (not just airports). The intention was clearly expressed yesterday, Tuesday June 29, 2021, by Crown Prince Mohammed bin Salman, according to which such an airline would keep transforming the country into a real global logistics center. The aim is also to diversify the local economy, without relying heavily, as has been the case until now, on oil. The most realistic scenario is soon said. Another carrier in this Nation would raise Saudi Arabia to fifth place worldwide in the "ranking" of air traffic, according to local media reports. For the moment, no indications have been provided on the methods and timing of the creation of the company. Furthermore, to increase non-oil revenues, by 2030 new ports, railways and road networks will rise, without forgetting the logistics sector, in order to increase this slice of gross domestic product from 6 to 10%. The same revenues, then, should rise to 45 billion riyals, the equivalent of 12 billion dollars. There is also the belief that such a move could support other sectors, starting with the tourism sector which must recover at all costs from the crisis triggered by the coronavirus pandemic. The ambitions are high and the proverbial wealth of the state could be of great help.
On the same topic, read also the article published by AVIONEWS.
AVIONEWS - World Aeronautical Press Agency