Traveling in the Emirates is still a dream to many and here comes the competitor. With 30 billion $, “RIA” is all set to compete with Emirates. Saudi Arabia is anticipating the launch of its new international airline which is to be branded under the name, ‘RIA’ and backed by Saudi Arabia’s Public Investment Fund (PIF). ‘RIA’ which will be based out of Riyadh is expected to acquire the second position in Saudi’s market once launched.
Vision 2030 is part of the country’s blueprint where $100 investment is made in the aviation sector over the next eight years. The bulk of which will go towards establishing a new national carrier serving global routes. As per sources, the new airline aims to do what Emirates has done in a quarter. It is an unprecedented history of aviation which is the reason why a CEO has not yet been appointed. ‘RIA’ was submitted PIF as a preferred option, but the final decision was to be made by Crown Prince Mohamed Bin Salman.
Saudi Arabia’s vision was to target 30 million international transit passengers by 2030. As per reports, it meant that the airline needed to operate in 150 destinations globally across North America, Europe, South America, Asia, and Africa which necessitates an investment of $ 30 million. Emirates presently flies to 158 destinations and 85 countries. According to reports, “presently 60% of the air traffic comes from the Middle East, 20% from Asia-Pacific, and 10% from Africa. Therefore, this is where the whole potential existed.
Stay tuned to Aviation Thrust for more information on RIA.
