Saudi Arabia plans new national airline as it diversifies from oil

Logistics hub: A file picture showing Saudi passengers arriving at the King Khaled International airport in Riyadh. The creation of another flag carrier will catapult Saudi Arabia into the fifth rank globally in terms of air transit traffic. — AFP

CAIRO: Saudi Arabia’s Crown Prince Mohammed bin Salman announced plans to launch a second national airline as part of a broader strategy to turn the kingdom into a global logistics hub as it seeks to diversify from oil.

The creation of another flag carrier would catapult Saudi Arabia into the fifth rank globally in terms of air transit traffic, official state media reported, without giving details on when and how the airline would be created.