Image:For representative purposes only
According to Bloomberg, Saudi Arabia’s sovereign wealth fund is reportedly engaged in discussions to secure freighters from Boeing Co. and Airbus SE for a new cargo airline initiative. This strategic move aims to position the kingdom as a major logistics hub, challenging the dominance of established players like Emirates and Qatar Airways.
The planned cargo airline is envisioned to support not only the national carrier Saudia but also the emerging Riyadh Air. This new venture is part of Saudi Arabia’s broader strategy to diversify its economy away from oil dependency, tapping into the lucrative logistics and transport sectors.
Sources familiar with the ongoing talks, who have requested anonymity due to the confidential nature of the discussions, indicate that the new airline will leverage state-of-the-art freighters from Boeing and Airbus to build a competitive edge in the global cargo market. The initiative reflects Saudi Arabia’s ambition to rival major logistics hubs such as Dubai and Doha, which have long been dominant players in the region.
By integrating advanced cargo aircraft into its operations, the new airline aims to enhance its capacity and efficiency, providing robust competition to existing giants in the industry. This move is expected to strengthen Saudi Arabia’s position in global logistics and supply chain management, aligning with the kingdom’s Vision 2030 plan to expand and diversify its economic base.
The planned airline will complement the services of Saudia and Riyadh Air, boosting the kingdom’s overall air cargo capabilities. As Saudi Arabia continues to invest in infrastructure and technology, the new cargo airline is set to play a pivotal role in transforming the region’s logistics landscape.
Source: Bloomberg
