PIF-owned Riyadh Air showcases its livery ahead of debut at Paris Air Show

Riyadh Air makes an appearance with its remarkable livery at the King Khaled International Airport in the Saudi capital on Monday. (SPA)
Short Url
Updated 12 September 2024
Follow

PIF-owned Riyadh Air showcases its livery ahead of debut at Paris Air Show

  • Aircraft livery design and colors reflects Saudi warmth and hospitality in a fresh, modern design

RIYADH: The latest player in the global aviation industry, Riyadh Air, made an appearance with its remarkable livery at the King Khaled International Airport in the Saudi capital on Monday.

A Boeing 787-9 Dreamliner painted aircraft flew at low altitude over several notable landmarks in the Riyadh skyline, including King Abdullah Financial District, Boulevard City, and some of the iconic main towers, thrilling residents with a glimpse of the Public Investment Fund-owned airline ahead of its public debut at the 54th Paris Air Show on June 19.

A ceremony was organized to mark the beginning of a new era in the Kingdom’s aviation industry. Top officials and notable personalities attended the event.

“Today is the beginning of a new dawn in the aviation sector. This is the first step of many yet to come,” Saleh Al-Jasser, minister of transport and logistics, said. 

Riyadh Air will build connectivity from the Saudi capital to over 100 destinations around the world due to its convenient location with over 60 percent of the world’s population within eight hours of flying time.

Prince Haifa bint Mohammed Al-Saud, vice minister of tourism, expressed her happiness over the development and praised the speed with which the airline is moving forward.

“The speed at which we managed to put an aircraft in the sky shows reflects our ambitions,” she said. 

The airline aims to be significantly innovative in providing travel services in the sector while being instrumental in delivering the Kingdom’s National Transport and Logistics Strategy and the National Tourism Strategy by leveraging the Kingdom’s strategic location connecting the three continents of Asia, Africa, and Europe. 

Talking to Arab News, Riyadh Air CEO Tony Douglas said it is an “important day for all of us and a special moment in history.”

He said the company plans to reveal its second livery later during 2023.




A Riyadh Air aircraft made an appearance with its remarkable livery at the King Khaled International Airport in Riyadh on Monday. AN photo

Earlier this month, the PIF-owned airline obtained “RX” as the airline designator code. It aims to facilitate 100 million visits to Saudi Arabia by 2030 by welcoming travelers from around the world. The establishment of Riyadh Air is part of PIF’s strategy to unlock the capabilities of promising sectors that can help drive the diversification of the local economy, adding $20 billion to non-oil gross domestic product and creating more than 200,000 direct and indirect jobs. 

The new national airline represents PIF’s latest investment in the sector, along with the recently announced King Salman International Airport masterplan, enabling a more financially resilient aviation ecosystem in Saudi Arabia, and supporting the industry’s global competitiveness in line with Vision 2030.

According to a press release, the brand identity of Riyadh Air reflects the modern and forward-thinking theme of the Kingdom. “It is inspired by the warmth and hospitality of the Kingdom and the vibrant lavender colors that carpet the desert in the spring, the beautiful livery is one of a series that will continue to push boundaries in aviation. It has been designed to incorporate visual references to the Kingdom and the city which include the sweeping curves of Arabic script with the global campaign tagline ‘The Future Takes Flight.’” 

Riyadh Air CEO said: “It has been deliberately designed so, because when it is parked at international airports in megacities across the world, this will instantly be noticed, and will be (an) international projection of brand Riyadh.”

Talking about the official launch of operations, Douglas said the first delivery of aircraft from Boeing is expected in early 2025. “As soon as we start receiving aircraft, we will start operations as quickly as we can in 2025, and it will be a very special year for Riyadh Air.”


Closing Bell: Saudi stocks slip as Tadawul falls 1% amid broad market weakness

Updated 30 December 2025
Follow

Closing Bell: Saudi stocks slip as Tadawul falls 1% amid broad market weakness

RIYADH: Saudi stocks fell sharply on Tuesday, with the Tadawul All Share Index closing down 108.14 points, or 1.03 percent, at 10,381.51.

The broader decline was reflected across major indices. The MSCI Tadawul 30 Index slipped 0.78 percent to 1,378.00, while Nomu, the parallel market index, fell 1 percent to 23,040.79.

Market breadth was strongly negative on the main board, with 237 stocks falling compared to just 24 gainers. Trading activity remained robust, with 164.7 million shares changing hands and a total traded value of SR3.19 billion ($850.6 million).

Among the gainers, SEDCO Capital REIT Fund led, rising 2.73 percent to SR6.77, followed by Chubb Arabia Cooperative Insurance Co., which gained 2.69 percent to SR20.20.

National Medical Care Co. added 1.72 percent to close at SR141.60, while Alyamamah Steel Industries Co. and Thimar Advertising, Public Relations and Marketing Co. advanced 1.57 percent and 1.13 percent, respectively.

Losses were led by Al Masar Al Shamil Education Co., which tumbled 8.36 percent to SR24.65. Raoom Trading Co.fell 6.75 percent to SR64.20, while Alkhaleej Training and Education Co. dropped 6.60 percent to SR18.12 and Naqi Water Co. declined 5.51 percent to SR54.00. Gulf General Cooperative Insurance Co. closed 5.44 percent lower at SR3.65.

On the announcement front, Chubb Arabia Cooperative Insurance Co. signed a multiyear insurance agreement with Saudi Electricity Co. to provide various coverages, expected to positively impact its financial results over the 2025–2026 period. The deal will run for three years and two months and is within the company’s normal course of business.

Meanwhile, Bupa Arabia for Cooperative Insurance Co. announced a one-year health insurance contract with Saudi National Bank, valued at SR330.2 million, covering the bank’s employees and their families from January 2026. Despite the sizable contract, Bupa Arabia shares fell 0.8 percent to close at SR137, weighed down by the broader market weakness.

In contrast, United Cooperative Assurance Co. revealed an extension of its engineering insurance agreement with Saudi Binladin Group for the Grand Mosque expansion in Makkah. The contract value exceeds 20 percent of the company’s gross written premiums based on its latest audited financials and is expected to support results through 2026. However, the stock came under selling pressure, ending the session down 4.51 percent at SR3.39.