Saudi Arabia announces new low-cost airline with fleet of 45 planes
CAIRO : Saudi Arabia announced on Sunday the planned establishment of a new national low-cost airline with a fleet of 45 planes to be ready by 2030, state media reported.
The UAE's carrier Air Arabia was among an alliance of three companies that won a bid to operate the new airline, the Saudi General Authority of Civil Aviation said.
The new carrier would operate domestic and international flights from and to King Fahd international airport in Dammam, the authority added.
The airline will serve 24 domestic destinations and 57 international destinations, with the aim of transporting 10 million passengers annually, state media said.
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Learn more at Click here to receive our latest investor news alerts."Cory Brandolini"Cory Brandolini, Chief Executive OfficerRebecca KerswellInvestor Relations ContactEmail: [email protected] Phone: 1-604-417-4440This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may", "should", "intends", "anticipates", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future plans and objectives of the Company, the commencement of trading of the Company's common shares on the CSE, are forward-looking statements that involve risks and uncertainties. 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