The Saudi Public Investment Fund (PIF) is actively diversifying its investments across promising sectors and is strategically leveraging the Kingdom’s central location at the crossroads of three continents to establish itself as a global logistics hub. The PIF is notably expanding its investment in transportation and logistics services, with recent efforts including exploratory discussions to acquire cargo planes from Boeing and Airbus, aiming to launch a new air freight company, according to Bloomberg. Currently, the PIF’s investments in transportation and logistics are distributed among seven companies, all working diligently to support the Kingdom’s vision and achieve the national strategy for transport and logistics services.
This strategy encompasses a range of major projects designed to meet both economic and social objectives. PIF launched Riyadh Air last year as a new airline. Operating to global standards, the company aims to lead the industry by connecting travelers to over one hundred international destinations worldwide by 2030, offering exceptional service combined with authentic Saudi hospitality.
Riyadh Air recently secured numerous agreements and strategic partnerships with major industry players and finalized deals for acquiring a fleet of aircraft. These preparations are setting the stage for a strong launch of operations, scheduled to begin in 2025. Rental services In 2022, PIF launched AviLease, a company specializing in full-service commercial aircr.