Saudi Arabia to launch new airline ‘RIA’ with $30bn war chest to rival Emirates

[SeatBackForward]

The airline, which has yet to appoint a CEO, is part of the kingdom’s $100 billion bet on tourism, and is set to launch in Q4

Saudi Arabia is finalising the launch its multi-billion-dollar new international airline, which sources say is likely to be branded “RIA”.

The Kingdom has been working on the launch for the past 12 months, with the new venture backed by Saudi Arabia’s Public Investment Fund.

Sources close to the PIF told Arabian Business that “RIA” is being tipped as the name for the new carrier. Once launched, it will become Saudi’s second national carrier, based out of Riyadh. The current SAUDIA operates from Jeddah.

Continued

Hmmm....

 

[Scr77]

Wow, this will be interesting. My moral compass is already tested with Qatar, this may just break it!

 

[SeatBackForward]

Wow, this will be interesting. My moral compass is already tested with Qatar, this may just break it!

Yet another oil subsidized airline from a nation with questionable labour practices...hmm. talk about race to the bottom!

 

[Cossie]

Yet another oil subsidized airline from a nation with questionable labour practices...hmm. talk about race to the bottom!

Questionable labour practices…….

Least of the issues with that nasty country.

Jamal Khashoggi: All you need to know about Saudi journalist's death

Jamal Khashoggi was killed inside the Saudi consulate in Istanbul in 2018. Here's what we know.

www.bbc.com

Saudi Arabia's human rights record may be overlooked over need for cheap oil, groups say

A record 81 people were executed in Saudi Arabia on March 12.

abcnews.go.com

However all is good as long as we can make a buck out of it, but who cares about human rights, hey greg?

 

[tgh]

all is good as long as we can make a buck out of it

Indeed…from living off the sheeps back to selling our Soul (coal) to build an Imperialistic predator who may soon revise our beliefs towards a path of enlightenment and righteousness...

 

[robbo135]

So they're launching a brand new airline that will compete with an existing airline they already own...Makes sense

 

[kamchatsky]

Wow, this will be interesting. My moral compass is already tested with Qatar, this may just break it!

I guess you won't have to fly it. There is plenty of competition around anyway.

We are starting to see the complete transformation of Saudi Arabia to open up. PIF has been investing a lot in many international companies, as well as investing in sports such as Newcastle United as well as the LIV Golf Tour, as well as having F1 and Boxing matches. Rightly or wrongly, over time I think Saudi Arabia will open up quite a bit. I just don't know how quickly they will transform themselves.

As a long-time Newcastle United supporter, I have always had two minds about PIF since they first announced the proposed takeover, but I am hoping that it would lead to a more open and "better" Saudi Arabia.

Here is a list of some of the investments that PIF have made:

Saudi’s 2020 Investments So Far

Saudi Arabia’s Public Investment Fund has bought $7.9 billion worth of new investments in global stocks. In this list, we take you through the investments and the rationale behind the buys.

www.forbesmiddleeast.com

Public Investment Fund - Portfolio Holdings, AUM (13F, 13G)

fintel.io

 

[SeatBackForward]

I just don't know how quickly they will transform themselves.

Perhaps this is their attempt at pivoting away from just being a petrol station?

 

[bam71]

Expect it will be a “dry airline“ as SAUDIA and Royal Brunei. I certainly won‘t be beating a door to try it.

 

[muppet]

I guess you won't have to fly it. There is plenty of competition around anyway.

We are starting to see the complete transformation of Saudi Arabia to open up. PIF has been investing a lot in many international companies, as well as investing in sports such as Newcastle United as well as the LIV Golf Tour, as well as having F1 and Boxing matches. Rightly or wrongly, over time I think Saudi Arabia will open up quite a bit. I just don't know how quickly they will transform themselves.

As a long-time Newcastle United supporter, I have always had two minds about PIF since they first announced the proposed takeover, but I am hoping that it would lead to a more open and "better" Saudi Arabia.

Here is a list of some of the investments that PIF have made:

Saudi’s 2020 Investments So Far

Saudi Arabia’s Public Investment Fund has bought $7.9 billion worth of new investments in global stocks. In this list, we take you through the investments and the rationale behind the buys.

www.forbesmiddleeast.com

Public Investment Fund - Portfolio Holdings, AUM (13F, 13G)

fintel.io

I disagree investing in foreign companies equals being more open and better. Can’t see any meaningful “transformation” other than recognising they can’t make money from oil forever.

Won’t catch me flying Saudi aircraft. Although i don’t think this idea is likely to get off the ground in any meaningful way anyway.

 

[SeatBackForward]

Although i don’t think this idea is likely to get off the ground in any meaningful way anyway

If you want to see what other fanciful ideas are coming out of KSA at the moment, check out their concept for "The Line" a 100km horizontal city in the desert, estimated to cost over a Trillion dollars. As likely to happen as Hyperloop in my opinion

I disagree investing in foreign companies equals being more open and better

Precisely. Money will overrule any pretense of ethics.

 

[Daver6]

Maybe they're throw some free shares at those golfers joining the LIV tour.

 

[kamchatsky]

I disagree investing in foreign companies equals being more open and better. Can’t see any meaningful “transformation” other than recognising they can’t make money from oil forever.

Won’t catch me flying Saudi aircraft. Although i don’t think this idea is likely to get off the ground in any meaningful way anyway.

No. Investing in foreign companies is simply the first step. With the creation of RIA I am very sure that it will get off the ground. It is a matter of how quickly they can actually get planes + pilots + slots + staff etc. That would be the constraint. Money is not an issue for them, especially that they want to be the biggest in the middle east. Not that I am interested in flying them (or any other ME carriers in that matter) considering that there are many airlines available to fly.

Don't forget that they are instrumental of getting LIV off the ground and actually getting players to move away from PGA, considering that PGA is almost like a monopolistic institutions for decades. Yes it is all about money for the players, but money has always been talking, even in the Western world.

 

[jakeseven7]

. It is a matter of how quickly they can actually get planes + pilots + slots + staff etc. That would be the constraint.

Exactly this.

Every established airline in the world is fighting over new planes and pilots. This will be a slow build.

And agree you wouldn’t catch me flying this either.

I feel dirty enough flying Qatar when there isn’t any other option

 

[HS-TQE]

This won't get off the ground, if it all. The ME3 struggles to be sustainable at times, being largely propped up by their governments whenever questionable decision(s) starts draining their finances.

 

[RooFlyer]

This won't get off the ground, if it all. The ME3 struggles to be sustainable at times, being largely propped up by their governments whenever questionable decision(s) starts draining their finances.

Don't think that logic follows. Saudi Govt has deeper pockets than the ME3. If they want to do something, they'll do it (operative word being 'want'). Spent a bit of time in the Kingdom and another time working with their govt people and 'money is never an object', especially when national pride is at stake.

As an aside: I flew Saudia once - abt 25 years ago. It was a B747 on a domestic route. We went up the stairs to our seats and were (in those days) a bit surprised to find the pilots in the aisle there, praying.

I'd have no great objection to flying the new airline, as long as it looked OK.

 

[SeatBackForward]

I'd have no great objection to flying the new airline, as long as it looked OK.

That's the thing, behind all the fancy display put on stage, they don't want you to peek behind the curtains!

 

[jase05]

Expect it will be a “dry airline“ as SAUDIA and Royal Brunei. I certainly won‘t be beating a door to try it.

Have flown a couple of times on both those airlines I’d happily fly them again. Service and comfort was pretty good on both and thought the food was of pretty decent quality too. Found the stop overs to be pretty interesting too.

 

[OZDUCK]

Have flown a couple of times on both those airlines I’d happily fly them again. Service and comfort was pretty good on both and thought the food was of pretty decent quality too. Found the stop overs to be pretty interesting too.

On the short hop Singapore/ Brunei return I also found Royal Brunei good. The food was excellent - the Asian variety anyway.

 

[MEL_Traveller]

This raises complex questions of airlines linked to governments, ethical considerations to do with those governments, and even issues around airlines from other countries that may appear to be giving indirect approval to governments through their continued flying to those countries.

HRW has an agenda, but it makes for some thought-provicting reading: https://www.hrw.org/

There are very few countries with a ‘clean’ record. Even Japan makes the list.