Saudi Arabian Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud announced on Sunday the launch of a new national airline, Riyadh Air, the Saudi Press Agency (SPA) reported, Trend reports citing Xinhua.
The airline, fully owned by the kingdom's Public Investment Fund (PIF), is expected to add 20 billion U.S. dollars to non-oil GDP growth and create more than 200,000 direct and indirect jobs, the SPA said in a report.
It added that the new national carrier will "leverage Saudi Arabia's strategic geographic location between the three continents, enabling Riyadh to become a gateway to the world and a global destination for transportation, trade, and tourism."
As it was named, the new airline will operate from Riyadh as its hub, according to the SPA.
The kingdom's flag carrier SAUDIA uses Jeddah, the second-largest city in Saudi Arabia, as its main hub.