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Saudi s Public Investment Fund to set up airline company

The company will operate international and domestic flights by Zainab Mansoor February 2, 2021 Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) is planning to establish a major airline company in partnership with other investment bodies. The new airline company will compete with Saudi Airlines and other large carriers in the region, online newspaper Maaal reported, citing unidentified people. The company will run international and domestic flights. The project has gone a long way in its study, the report added. State-owned Saudi Arabian Airlines is the biggest carrier in the kingdom. Others include low-cost carrier Flyadeal, owned by Saudi Arabian Airlines, and Flynas, owned by Prince Alwaleed Bin Talal Al Saud’s Kingdom Holding.

Saudi Wealth Fund to Set Up Airline Company, Maaal Reports

Saudi Wealth Fund to Set Up Airline Company, Maaal Reports Bloomberg 2/1/2021 Reema Alothman and Layan Odeh © Bloomberg Visitors walks past the General Electric Co. GE90 jet engine of a Boeing Co. 777-368(ER) aircraft, operated by Saudi Arabian Airlines, on static display at the Saudi Air Show at Al Thumamah airport in Riyadh, Saudi Arabia, on Tuesday, March 12, 2019. Saudi Airshow is the first Aviation & Aerospace Exhibition of its kind in the Kingdom of Saudi Arabia. (Bloomberg) Saudi Arabia’s wealth fund plans to establish an airline company in collaboration with other investment entities, the online Maaal newspaper reported, citing unidentified people.

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