PIF-owned Riyadh Air signs global partnerships with Singapore Airlines and Air China

Under the MoU, the Public Investment Fund-owned carrier will work with Singapore Airlines to explore opportunities for interline connectivity on each other’s services. Supplied
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Updated 04 June 2024
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PIF-owned Riyadh Air signs global partnerships with Singapore Airlines and Air China

RIYADH: Saudi Arabia’s newest airline, Riyadh Air, has signed agreements with two major carriers, Singapore Airlines and Air China, to establish strategic partnerships and expand its global network.

The agreement focuses on interline connectivity, codeshare arrangements, and potential collaboration in frequent flyer programs as well as cargo services, customer experience, and digital innovation. 

Riyadh Air CEO Tony Douglas and Singapore Airlines chief Goh Choon Phong signed the memorandums of understanding at the 80th International Air Transport Association Annual General Meeting in Dubai, held June 2 - 4. 

Riyadh Air, scheduled to launch commercial operations in 2025, will allow its passengers to access Singapore Airlines’ network spanning Southeast Asia and the South Pacific, introducing various new travel destinations to its customer base.  

The MoU with Air China, the country’s national flag carrier, reflects the strong relationship between Saudi Arabia and China. 

Signed on June 3 at the IATA AGM, the agreement aims to facilitate seamless travel between China and the Middle East by exploring cooperation in interline traffic and codeshare arrangements. 

This partnership aligns with China’s Belt and Road Initiative and Saudi Arabia’s Vision 2030, according to the statement.

Douglas commented: “Our partnership with Air China, a leading global carrier with a vast network in key Chinese markets, complements Riyadh Air’s ambitious future plans.”

He added: “This MoU represents a significant step toward establishing a long-term partnership that will facilitate seamless travel for passengers between China and the Middle East and beyond. Together, we will solidify our positions as vital links, further strengthening the economic and cultural ties between our regions and aligning with both China’s Belt and Road Initiatives and Saudi Arabia’s Vision 2030.”

Both partnerships provide advantages, including travelers on both ends benefiting from enhanced connectivity and a wider range of trip options.

These partnerships highlight Riyadh Air’s commitment to becoming a world-leading carrier. The Saudi carrier aims to connect passengers to 100 destinations globally by 2030, prioritizing sustainability and setting a new standard for travel. 

As a key contributor to Vision 2030, Riyadh Air is booting economic diversification and job creation within Saudi Arabia.

“Our strategic partnership with Singapore Airlines unlocks significant benefits for our future guests as it grows our network in partnership with the world’s best airline,” said Douglas during the signing with Singapore Airlines. 

He added: “We see huge potential for strong connectivity in South East Asia and both Australia and New Zealand through the award-winning hub at Singapore Changi Airport while also providing opportunities for westbound passengers to connect across the Kingdom of Saudi Arabia and the Middle East region on Riyadh Air.” 

The CEO emphasized that this relationship is significant, highlighting a wide-ranging codeshare agreement that is expected to cover various areas such as digital and technology, loyalty, and cargo. 

Conversely, Singapore Airlines’ customers will have more options for travel to the Middle East through Riyadh Air’s network, stimulating passenger traffic between the Kingdom and Singapore.

Goh Choon Phong, CEO of Singapore Airlines, stated: “This win-win strategic partnership with Riyadh Air will enable us to offer even more options, enhanced connectivity, and greater benefits to our customers.”  

He added: “Together, we can facilitate the growth of passenger travel between Saudi Arabia and Singapore, and beyond, via our respective networks, supporting both tourism and business links.” 

Phong noted that the MoU will enhance customer experience and cargo services and harness digital tools and solutions, potentially bringing greater benefits to both airlines in the future. 

Saudi Arabia’s new carrier is set to unveil its special cabin crew uniform at the upcoming Paris Fashion Week from June 18-23.


Closing Bell: Saudi main index closes in green at 11,382 

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Closing Bell: Saudi main index closes in green at 11,382 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 111.21 points, or 0.99 percent, to close at 11,381.83. 

The total trading turnover of the benchmark index was SR6.37 billion ($1.70 billion), as 204 of the listed stocks advanced, while 56 retreated. 

The MSCI Tadawul Index also rose, adding 13.85 points, or 0.91 percent, to close at 1,533.33. 

The Kingdom’s parallel market Nomu gained 8.39 points, or 0.04 percent, to close at 23,749.38. This came as 30 of the listed stocks advanced, while 45 retreated. 

The best-performing stock was East Pipes Integrated Co. for Industry, with its share price surging 9.94 percent to SR146. 

Other top performers included Tourism Enterprise Co., which saw its share price rise by 9.93 percent to SR14.17, and Thob Al Aseel Co., which saw a 7.84 percent increase to SR3.99. 

On the downside, Saudi Arabian Mining Co. was among the weaker performers, with its share price falling 2.64 percent to SR77.40. 

Saudi Paper Manufacturing Co. saw its shares fall 2.54 percent to SR57.50, while Yamama Cement Co. declined 2.07 percent to SR27.40. 

On the announcements front, Future Vision for Health Training Co. signed a two-year cooperation agreement with King Saud University aimed at strengthening links between academia and professional readiness. 

According to a Tadawul statement, the partnership focuses on the joint development and execution of specialized training programs for university students, aiming to enhance their practical skills and employability. 

The initiative includes coordinated efforts in training design, academic supervision, and program evaluation, with the goal of better preparing graduates for the labor market. 

The agreement, which is renewable by mutual consent, is expected to start generating a positive financial impact in the second half of 2026. The company said no related parties are involved in the deal. 

The company’s share price closed at SR7.30 on Nomu, marking a 1.39 percent decrease.