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RIYADH: ����ֱ��’s flag carrier, Saudia, plans to receive 12 new passenger aircraft and purchase cargo planes by 2026, part of a broader order of 191 aircraft for the airline and Adel Aviation, a senior official said.

Speaking to Al-Eqtisadiah newspaper, Abdullah Al-Shahrani, the airline’s director of corporate communications, said that the deliveries are part of a broader plan covering 191 new aircraft for Saudia and its low-cost subsidiary flyadeal.

In May 2024, the Saudia Group unveiled the largest aircraft order in the history of Saudi aviation — a deal with Airbus for 105 confirmed aircraft, including 50 A320neo and A321neo models for flyadeal.

����ֱ��’s aviation sector contributed around $20 billion to the Saudi economy in 2023, Al-Eqtisadiah stated, citing a report by the General Authority of Civil Aviation.

“Saudia has a major expansion plan in the cargo sector, driven by the cargo boom in ����ֱ��, including air freight operations and rapidly growing e-commerce, with shipments now reaching customers within a few days,” Al-Shahrani told Al-Eqtisadiah.

He added: “The airline will allocate dedicated cargo areas on passenger aircraft to carry small items.”

Flyadeal, a subsidiary of Saudia, will support its growth objectives through the expansion of its fleet from 32 Airbus A320neo aircraft to more than 100 by 2030, increasing its network from 30 domestic and international destinations to over 100 within six years.

Saudia’s aircraft orders mark a significant milestone not only for the Saudi aviation industry but also for the wider Middle East and North Africa region. 

Prior to the deal, Saudia had a fleet of 144 aircraft, while Flyadeal had 32. Deliveries of the new aircraft are scheduled to begin in 2026 and continue through 2032.

On the sidelines of the 2024 Future Aviation Conference, ����ֱ�� unveiled investment opportunities in the aviation sector worth $100 billion and signed more than 70 agreements and deals totaling $12 billion.

Riyadh Air announced at the 55th Paris Air Show in June a purchase order for 50 Airbus A350-1000 aircraft, including 25 confirmed jets and options for 25 additional planes.

Meanwhile, flynas signed an agreement with Airbus to purchase 160 new aircraft: 30 wide-body A330neo planes and 130 single-aisle aircraft, including the A320neo, A321neo, and A321LR.

This brings flynas’ total aircraft purchase orders to 280 over seven years, making it one of the largest aircraft orders in the region, reflecting the growth of ����ֱ��’s aviation sector under Vision 2030.

RIYADH: ����ֱ��’s Vision 2030 program is progressing steadily, with 85 percent of the targets outlined in the initiative completed or on track for completion by the end of 2024, according to the country’s investment minister. 

Speaking at the Fortune Global Forum Conference in Riyadh, Khalid Al-Falih said that the non-oil sector’s contribution to ����ֱ��’s gross domestic product currently stands at 56 percent, up from 40 percent before the launch of Vision 2030. 

The minister added that the Kingdom’s economy has doubled in size from $650 billion to about $1.3 trillion since the launch of Vision 2030 program. 

Launched in 2016, ����ֱ��’s Vision 2030 program aims to transform the Kingdom both economically and socially. Strengthening the non-oil sector is one of the crucial goals outlined in this initiative, as the Kingdom currently pursues broader economic diversification efforts to reduce its reliance on crude revenues. 

“We (����ֱ��) have made remarkable progress in transforming our economy and society. As of the end of 2025, 85 percent of our initiatives were completed or on track with most targets met or exceeded,” said Al-Falih. 

Al-Falih also added that the number of international firms licensed to establish their regional headquarters in Riyadh has reached 675. 

The regional HQ program offers a 30-year corporate tax exemption, withholding tax relief, and regulatory support, reflecting efforts to position the Kingdom as a regional business hub and attract multinational corporations to the capital.

Some of the noted firms that have established regional bases in Riyadh include Northern Trust, IHG Hotels & Resorts, PwC, and Deloitte. 

“We have our regional headquarters program, which was launched targeting 500 RHQs by 2030. I am happy to say to this audience, we have reached 675 regional headquarters already,” said Al-Falih. 

The minister added that ����ֱ�� has made remarkable progress in reducing unemployment, with the current joblessness in the Kingdom standing at just seven percent. 

He further said that women’s participation in the workforce has reached 37 percent, exceeding Vision 2030 targets. 

In a separate panel discussion, Al-Falih said that British bank Barclays’ application to launch its regional headquarters in Riyadh will be approved soon. 

“If I may break that news, we will be recognizing Barclays for the regional headquarters in a couple of days, and I’d like to thank you for that word of confidence into the kingdom as a platform,” said Al-Falih.