Saudi Arabia’s Prince Mohammed bin Salman announced the plan to launch a second country’s flag-carrier. The move comes as Saudi Arabia wishes to diversify from oil and become a global logistics hub.
Through this strategy, according to the state news media Saudi Press Agency (SPA) report, Saudi Arabia aims to advance its position to become the 5th country in the world in terms of global air traffic transit. With the addition of a second national airline, the country also seeks to expand its international route network to 250 destinations and double air cargo capacity to more than 4.5 million tonnes.
Despite goals to diversify the economy and become a global logistics hub, the prince of Saudi Arabia did not indicate how and when the second flag-carrier of Saudi Arabia would be created.
“This strategy will contribute to advancing technical capabilities and human capital in the Transport and Logistics Sector, it will invest our country’s strategic position at the heart of three continents, further concreting our integral part of global economies,” bin Salman was quoted by the SPA.
“By creating advanced logistical industries, ensuring high quality services and applying competitive business models, we will strengthen productivity and sustainability in the logistics sector,” bin Salman added.