Latest news with #YasirAl-Rumayyan
Gulf Insider
3 days ago
- Business
- Gulf Insider
Riyadh Air Orders Up to 50 Airbus A350-1000 Jets
Riyadh Air has signed a major agreement with Airbus to purchase up to 50 A350-1000 aircraft, reinforcing its ambitious plans to become a global aviation leader. The deal, unveiled at the 55th Paris Airshow, includes 25 firm orders and purchase rights for an additional 25 aircraft. The agreement was signed at a ceremony attended by top aviation and government leaders, including Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of Riyadh Air, Riyadh Air CEO Tony Douglas, and Airbus Commercial Aircraft CEO Christian Scherer. With an operational range of more than 16,000km, the Airbus A350-1000 will empower Riyadh Air to connect the Saudi capital with major cities worldwide, supporting its goal of flying to more than 100 global destinations by 2030. The aircraft's range and capacity align perfectly with Saudi Arabia's plans to host global events including Riyadh Expo 2030 and the FIFA World Cup 2034. Yasir Al-Rumayyan, PIF Governor and Chairman of Riyadh Air said: 'Our new national carrier is set to take to the skies in the near future, and as a fundamental element of the Kingdom of Saudi Arabia's infrastructure, will connect our capital city to over 100 international destinations around the globe by 2030. 'With its outstanding range, adding the Airbus A350-1000 to our fleet demonstrates the strategic contribution of Riyadh Air in positioning Saudi Arabia as a global aviation hub.' Riyadh Air will begin operations in 2025 with a three-type aircraft fleet, of which the A350-1000 will serve as a cornerstone. With up to 182 aircraft now on order, the airline aims to offer best-in-class passenger experiences through innovative cabin design, stylish First-Class options, and state-of-the-art digital and entertainment systems. Riyadh Air CEO Tony Douglas said: 'Riyadh Air is making significant progress as we move towards our first flight later this year and agreeing this deal for up to 50 Airbus A350-1000 aircraft is an important statement of intent. 'Already in 2025, we have received our AOC and unveiled our new cabin interiors and having now completed our initial three aircraft orders, we are in a position to fulfil our ambitious network goals. 'We play an important role in the evolution of the Saudi aviation ecosystem with the aim to create 200,000 direct and indirect jobs and contribute almost $20bn to the Kingdom's non-oil GDP.' Christian Scherer, Chief Executive Officer Commercial Aircraft at Airbus, said: 'We are honoured to support Riyadh Air's bold vision with the A350-1000, the world's most modern and efficient widebody aircraft. 'This partnership reflects our shared commitment to innovation and decarbonization whilst connecting the vibrant Kingdom of Saudi Arabia to the world! Riyadh Air's selection of the A350-1000 underscores the aircraft's unmatched capability to deliver premium passenger experience and operational excellence—perfectly aligned with the ambitions of Vision 2030.' Backed by Saudi Arabia's sovereign wealth fund, PIF, Riyadh Air is a key driver of the Kingdom's Vision 2030 strategy to diversify its economy and elevate its global connectivity. The airline is expected to play a significant role in: Boosting international passenger and cargo traffic Supporting the Saudi National Transport and Logistics Strategy Enabling tourism by linking travellers with Saudi Arabia's cultural, historic, and natural sites Positioning Riyadh as a global business and travel hub With operations launching in late 2025, Riyadh Air is poised to become one of the most advanced carriers in the world, setting new standards in aviation experience, sustainability, and connectivity. Also read: UAE Airline Flight Suspension Update: Etihad, Flydubai, Air Arabia and Emirates Travel Latest
Daily Tribune
3 days ago
- Business
- Daily Tribune
Riyadh Air Orders 25 Airbus A350-1000 Aircraft, Eyes Future Expansion
AFP | The Hague, Netherlands Riyadh Air, Saudi Arabia's new premium international airline, has confirmed a major order for 25 Airbus A350-1000 aircraft, with the potential to double the number to 50 in the future. The deal was officially signed during the Paris Air Show and attended by key figures including H.E. Yasir Al-Rumayyan, Governor of Saudi Arabia's Public Investment Fund (PIF), Christian Scherer, CEO of Commercial Aircraft at Airbus, and Riyadh Air CEO Tony Douglas. This makes Riyadh Air the first Saudi airline to operate the A350-1000, a long-range aircraft known for its advanced technology, fuel efficiency, and passenger comfort. The purchase supports Saudi Arabia's Vision 2030 plan, which aims to increase air traffic to 300 million passengers annually and position the Kingdom as a global hub for aviation and tourism. Adam Boukadida, CFO of Riyadh Air, called the order 'a significant step' in building a world-class airline. He said the A350-1000 will help the airline meet sustainability targets and provide passengers with a premium travel experience. Airbus executive Benoît de Saint-Exupéry said the aircraft will help Riyadh Air achieve its growth ambitions. 'The A350-1000 is the perfect aircraft for expanding long-haul routes while meeting efficiency and comfort expectations,' he added. The A350-1000 is one of the most modern wide-body aircraft in the world, offering the longest range of any commercial airliner currently in production. It is also designed to fly with up to 50% Sustainable Aviation Fuel (SAF), with Airbus aiming to make all its aircraft fully SAF-compatible by 2030. As of May 2025, more than 1,390 A350 aircraft have been ordered by over 60 airlines globally, with 657 already in operation on routes of varying distances.
Leaders
21-05-2025
- Business
- Leaders
PIF's Al-Rumayyan, France's Macron Open Paris Office
The Governor of the Saudi Public Investment Fund (PIF), Yasir Al-Rumayyan, and the President of France, Emmanuel Macron, opened PIF's subsidiary company office in Paris. On Wednesday, Al-Rumayyan and Macron attended the opening ceremony, alongside high dignitaries and business officials from Saudi Arabia and France. The opening ceremony coincided with the annual 'Choose France' event hosted in Paris. By opening a new subsidiary company office in Paris, the PIF expands its global footprint and strengthens ties with France, a major international market. The move also underscores the PIF's commitment to enhancing engagement with local partners, key businesses and institutional investors. Importantly, the new subsidiary company office will foster the PIF's partnerships across Europe. The PIF invested $84.7 billion in Europe, between 2017 and 2024, injecting $52 billion to the continent's GDP and generating more than 254,000 direct and indirect jobs across Europe. France's share of these investments amounted to $8.6 billion, adding $4.8 billion to the country's GDP and creating 29,000 direct and indirect jobs for the French economy. Furthermore, the new office in Paris aligns with the PIF's strategy to propel global economic growth and spearhead Saudi Arabia's economic transformation. The Paris office adds to the PIF's subsidiary company offices in New York, London, Hong Kong and Beijing. The PIF also has around 220 portfolio companies, which contributed to creating more than 1.1 million jobs across the Kingdom and worldwide. Short link :
Leaders
19-05-2025
- Business
- Leaders
PIF Opens Paris Office to Boost Global Growth, France Ties
The Public Investment Fund (PIF) has announced the opening of a new subsidiary office in Paris, reinforcing its global expansion strategy and deepening its presence in France one of its key international markets. This move reflects PIF's commitment to building close relationships with local partners, leading companies, and institutional investors. The opening ceremony will be attended by French President Emmanuel Macron, PIF Governor Yasir Al-Rumayyan, and other senior officials and business leaders. The event coincides with the annual 'Choose France' summit held in Paris. As a long-term investor in transformative industries and markets worldwide, PIF views the Paris office as a strategic step toward enhancing regional partnerships. According to the announcement, from 2017 to 2024, PIF invested $84.7 billion across Europe, contributing $52 billion to the continent's GDP and generating more than 254,000 direct and indirect jobs. In France alone, PIF's investments totaled $8.6 billion, adding $4.8 billion to the French GDP and creating 29,000 jobs. The Paris office opening is aligned with PIF's broader strategy to support global economic development while driving Saudi Arabia's economic transformation. With over 220 portfolio companies and a global footprint that includes offices in New York, London, Hong Kong, and Beijing, PIF has already created over 1.1 million jobs worldwide. The fund remains dedicated to forging new partnerships with a wide array of international institutions. Related Topics : PIF Drives Women's Golf Revolution with New Global Series Partnership Saudi PIF Eyes $100M Investment in AirAsia to Boost Regional Tourism Global Golf Stars Gear Up for Fierce Showdown at Saudi PIF Women's Championship Saudi Arabia's Golfing Showcase: PIF Saudi International 2024 Launches in Riyadh Short link : Post Views: 123
Saudi Gazette
19-05-2025
- Business
- Saudi Gazette
PIF opens Paris office to expand European investment footprint
Saudi Gazette report PARIS — The Public Investment Fund (PIF) of Saudi Arabia announced the opening of a new subsidiary office in Paris, reinforcing its global footprint and signaling deeper engagement in one of its key international markets. The Paris office will serve as a strategic base for strengthening partnerships with leading companies, investors, and institutions across Europe. The official opening will coincide with the launch of the annual Choose France summit and will be attended by French President Emmanuel Macron, PIF Governor Yasir Al-Rumayyan, and several senior officials and business leaders. The move highlights PIF's commitment to international collaboration and long-term investment in innovative and transformative sectors. Between 2017 and 2024, PIF invested $84.7 billion in Europe, contributing $52 billion to the continent's GDP and creating over 245,000 direct and indirect jobs. In France alone, PIF has invested $8.6 billion during the same period, adding $4.8 billion to French GDP and generating more than 29,000 jobs. The Paris expansion aligns with PIF's broader strategy to drive global economic growth while supporting Saudi Arabia's Vision 2030 goals. The fund, one of the world's most influential investors, has played a key role in creating more than 1.1 million job opportunities globally through its investments and partnerships. PIF's global presence now includes offices in New York, London, Hong Kong, Beijing, and Paris.
