Companies
Riyadh Air
Saudi Arabia · Aviation (airline) · State-owned · Founded 2023 · Riyadh
Riyadh Air is an airline owned by the Public Investment Fund, according to the PIF portfolio page, which says it was established in 2023 and aims to connect guests to over 100 destinations around the world by 2030. PIF's launch announcement of 12 March 2023 called it a PIF wholly owned company with Riyadh as its operational hub, named Yasir Al-Rumayyan as chairman and Tony Douglas as chief executive, and said the airline is expected to add USD 20 billion to non-oil GDP and create more than 200,000 direct and indirect jobs. Those are targets stated at launch, not results. The company does not publish audited financial statements that INXEN has found.
Key facts
No verified figure held yet.
Ownership and relationships
- Chief Executive Officer:Tony DouglasPublic Investment Fund — press release: HRH Crown Prince announces Riyadh Air (12 Mar 2023) · 12 Mar 2023 ↗
- Chairman:Yasir Al-RumayyanPublic Investment Fund — press release: HRH Crown Prince announces Riyadh Air (12 Mar 2023) · 12 Mar 2023 ↗
- sole owner:Public Investment Fund· 100%
Public Investment Fund — press release: HRH Crown Prince announces Riyadh Air (12 Mar 2023) ↗·as of 12 Mar 2023·source dated 12 Mar 2023·updated 23 Oct 2026
Key people
- Tony Douglas · Chief Executive Officer, Riyadh Air