Saudi Arabia’s sovereign wealth fund will acquire a 10% stake in Heathrow Airport, the busiest airport in Europe. Saudi is buying the share off of Ferrovial of Spain, while Paris-based Ardian will acquire 15 percent in a deal worth £2.37 billion ($3 billion) The deal is being made by the Public Investment Fund, known as PIF, which is chaired by the kingdom’s crown prince.
Riyadh Air Doesn't Plan To Compete With Emirates
14.11.2023 - 15:09 / skift.com / Josh Corder
The chief operating officer of Saudi Arabia’s new airline, Riyadh Air, doesn’t expect the carrier will become a “super-connecter” but will focus instead on “point-to-point” travel. And COO Peter Bellew told at the Dubai Airshow Tuesday that Ryadh Air will meet different needs than nearby Emirates.
“Emirates is a great airline, but a lot of Riyadh Air’s traffic will be point-to-point. A lot of people are going to Riyadh. We just want to make it really easy for travelers to get point-to-point. I don’t see us being some super-connector, I think it will be the reverse,” he said.
Launching in the middle of 2025, Riyadh Air hopes to fly to more than 100 destinations by the end of the decade. The airline expects to cover all major cities, including those in the Americas, and adding $20 billion to the kingdom’s economy.
The airline is owned by the country’s immense sovereign wealth fund, called the Public Investment Fund, or PIF. The sovereign wealth fund is investing in what is anticipated to become one of the largest airports globally.
Revealed last year, the King Salman International Airport in Riyadh aims to cater to a capacity of up to 185 million passengers and handle 3.5 million tons of cargo by 2050. By comparison, Atlanta’s airport, presently the busiest in the world, managed approximately 110 million passengers in 2019.
Regional neighbor Dubai has one of the busiest airports in the world, where Emirates is based. Airport operator Dubai Airports said it served 41.6 million guests in the first half of 2023, a 49% increase from the first half of 2022.
As the name suggests, Riyadh Air is heavily focused on operations out of the city. Saudia, the long-standing national carrier, is being pushed more heavily into its base in Jeddah so Riyadh Air can lead the way in the capital.
Bellew said: “If you look at Saudia’s position, the demand for people to go to Jeddah is exponentially large. The traffic there is increasing beyond everybody’s expectations. It has an enormous religious tourism demand. Every piece of metal Saudia has, they’ll need to deploy it down in Jeddah.”
“Saudia needs the metal [in Jeddah] and they would’ve needed to increase in size to what we will be [if they stayed in Riyadh].”
Much like how Emirates’ success has been intrinsically tied to the tourism success story of Dubai, Bellew has similar aspirations for Riyadh Air.
He said: “Riyadh is our brand, it’s the brand of the city and that city is the capital. All the billions going into the city will benefit Riyadh Air and the city will benefit from having our brand flying around the world.”
The country has a tourism target of 150 million travelers by 2030, combining both international and domestic guests to hit that goal. Tourism
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Top Autors
Popular Topics
breakingtravelnews.com
29.11.2023 / 16:17
BIE Member States elect Saudi Arabia as host country of World Expo 2030! Congratulations Riyadh!
BIE Member States elect Saudi Arabia as host country of World Expo 2030! Congratulations Riyadh!
travelpulse.com
28.11.2023 / 22:37
Best Travel Brands for the Luxury Client: Hotels, Cruises, Airlines, Tours
These days, there are many travel companies out there that boast wonderful luxury offerings, but there are some brands whose names have become completely inseparable from the very concepts of style, class, sophistication and supreme indulgence.
skift.com
27.11.2023 / 23:23
The Future of Middle East Travel and Tourism
The Middle East’s travel and tourism ambitions can seem unbelievable: 150 million visitors into the once-closed off Saudi Arabia, 40 million visitors to the UAE – big goals keep getting more ambitious. The Skift Global Forum East returns to Dubai from December 12 to 14 and we’ll be speaking to the most important travel executives from the region to better understand how it might all play out.
travelandleisure.com
27.11.2023 / 13:43
Delta's Cyber Monday Sale Is Here — With 25% Off Flights and More
Delta Air Lines is celebrating the holiday season with its biggest-ever premium cabin sale for Cyber Monday and Travel Tuesday.
traveldailynews.com
27.11.2023 / 09:44
Qatar Airways renews longstanding partnership with FIFA, extending through to 2030
The renewed collaboration will include the FIFA World Cup 26, FIFA Women’s World Cup 2027, and FIFA World Cup 2030, as well as youth tournaments starting with FIFA U-17 World Cup in Indonesia.
traveldailynews.com
27.11.2023 / 09:44
New codeshare agreement between ITA Airways and Korean Air
The arrangement with Korean Air is ITA Airways’ 32nd codeshare agreement, a result achieved in just over two years since the company’s inception.
traveldailynews.com
27.11.2023 / 09:39
Flynas joins World Tourism Organization as first Saudi airline and the first LCC in the Middle East
flynas’ joining as an affiliate member of the UNWTO, which opened its Regional Office for the Middle East in Riyadh in 2021, contributes to highlighting the pioneering role of flynas and adds value in visibility, networking, participation, knowledge, support, and cooperation with Tier 1 organizations in the field of tourism.
forbes.com
25.11.2023 / 20:39
Celebrity Chef-Led Saltbae Burger Opens 1st Airport Location, Plans Future Growth
Turkish celebrity chef and entrepreneur Nusret Gökçe is breaking records again by opening his first Saltbae Burger restaurant at Istanbul International Airport (also referred to as Istanbul Grand Airport). Opened this past week with seating for nearly 200 people, it becomes one of the largest restaurants at the airport. The new outlet is just one part of a master strategy to grow the brand, a disrupter in the fast-casual burger category, internationally. Around 40 new locations are in the works, including about ten in major global airports.
breakingtravelnews.com
22.11.2023 / 12:40
CARIBBEAN AIRLINES CHAIRMAN EXPLORES STRATEGIC COLLABORATION WITH SAUDI’S AIR CONNECTIVITY PROGRAM
Caribbean Airlines Limited is pleased to announce that its Chairman, Mr. S.
skift.com
22.11.2023 / 10:39
Four Seasons Joining Ras Al Khaimah Gamble With Own Resort
Toronto hotel brand Four Seasons is likely to announce its own resort and standalone villa project in United Arab Emirate’s (UAE) Ras Al Khaimah. The proposed super-luxury resort is currently going through its master planning stages and has already found a plot of land “very close” to the $3.9 billion Wynn integrated resort opening in 2027.
breakingtravelnews.com
21.11.2023 / 13:16
The first CARICOM summit kicks off in Riyadh
is Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, chaired the SAUDI-CARICOM Summit in Riyadh, on behalf of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud. During the summit, His Royal Highness the Crown Prince had photographs taken with the leaders of the participating countries. The official delegation attending the summit includes Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, Minister of State and Cabinet Member Prince Turki bin Mohammed bin Fahd bin Abdulaziz, and Minister of Sport Prince Abdulaziz bin Turki bin Faisal bin Abdulaziz. Other ministers representing Saudi Arabia at the summit include Minister of the National Guard Prince Abdullah bin Bandar bin Abdulaziz, Minister of Defense Prince Khalid bin Salman bin Abdulaziz, and Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah. The delegation also comprises Minister of State, Member of the Cabinet and National Security Adviser Dr. Musaed bin Mohammed Al-Aiban as well as Minister of Tourism Ahmed Al-Khateeb.