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Saudi Arabia’s National Airline Saudia Could Fall Under PIF Ownership

Saudi Arabia's National Airline Saudia Could Fall Under PIF Ownership

According to the report, the Public Investment Fund (PIF) of Saudi Arabia, the country’s sovereign wealth fund, is reportedly in talks to buy the national airline Saudia.

An important milestone for one of the oldest airlines in the Middle East, this prospective transfer of ownership would also apply to other businesses owned by Saudia, including as its low-cost subsidiary Flyadeal. The action is considered a component of a larger plan to strengthen the PIF’s aviation portfolio by the beginning of 2025, which might improve Saudia’s financial results and operational effectiveness.

There have also been proposals that the airline might be privatized or combined with Riyadh Air, which is already controlled by the PIF. Saudia now has a sizable fleet of over 142 aircraft and serves more than 90 locations worldwide, while the exact value of the deal is still unknown.

However, sources caution that the plan may encounter delays or even be abandoned altogether. The establishment of Riyadh Air is consistent with the PIF’s larger goal of utilizing important industries to promote Saudi Arabia’s economic diversification. Based on projections, it is possible that Riyadh Air will generate billions of dollars in value and hundreds of thousands of jobs, making it a major contributor to the kingdom’s non-oil GDP.

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Recently, The UK-based construction company Mace has been selected as the delivery partner for King Salman International Airport (KSIA) in riyadh. When KSIA opens in 2030, it will be the largest airport in the world, marking a significant milestone for the aviation industry.

By 2030, the airport is forecasted to facilitate a substantial increase in annual passenger traffic, skyrocketing from 29 million to a staggering 120 million travelers. Moreover, aircraft traffic within the kingdom is anticipated to surge from 211,000 to over 1 million flights per year following the airport’s inauguration.

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Airlines

Korean Air Rolls Out Next-Generation Business Class: ‘Prestige Suites 2.0’

Korean Air Rolls Out Next-Generation Business Class: ‘Prestige Suites 2.0’

Korean Air has introduced its latest business class offering, the Prestige Suites 2.0, set to make its debut aboard the airline’s new Boeing 787-10 Dreamliner fleet.

This new product marks a significant upgrade from the previous Collins Apex forward-facing staggered seats, known as Prestige Suites. The Prestige Suites 2.0 is designed in a staggered 1-2-1 configuration, ensuring each passenger direct aisle access and ample privacy.

The seats offer 46 inches of pitch, 21 inches of width, and can be transformed into a flat bed measuring between 78.2 and 79.2 inches. A standout feature of these seats is the inclusion of privacy doors that stand 52 inches high, offering a more secluded experience even when positioned closer to the aisle.

Tech-savvy travelers will appreciate the suite’s cutting-edge features, which include a 23.8-inch ultra-high-definition entertainment monitor, 60W USB-C charging, AC power outlets, and wireless charging capabilities.

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Moreover, Korean Air’s Boeing 787-10s will be the first in the fleet to offer Wi-Fi, enhancing connectivity for passengers. The new business class seats come with a range of amenities aimed at maximizing comfort and convenience. These include a storage cubby, a handheld remote, USB-C charging ports, and universal outlets.

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The wireless charging pad is a notable highlight, reflecting the suite’s advanced technological integration. The layout of the Prestige Suites 2.0 comprises 10 rows of seats in a 1-2-1 arrangement, specifically rows 7-16 in the business class cabin. The cabin is flanked by lavatories and galleys at both the front and the rear, ensuring easy access for all passengers.

A striking departure from Korean Air’s traditional design, the new seats feature a bold brown color palette. This is a significant change from the airline’s iconic Morning Calm blue and bright white interiors.

The new design incorporates semi-matte deep brown side consoles with metallic tops, brushed coppery-almond cabinet doors, and textured tan interior shrouds, giving the cabin a modern and sophisticated look.

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Turkish Airlines to launch Next-Gen “Crystal” Business Class Suite:Click here

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