Saudi crown prince launches kingdom's latest airline

Riyadh, March 13 Saudi Arabian Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud has announced the launch of a new national airline, Riyadh Air, the Saudi Press Agency (SPA) reported.

The airline, fully owned by the kingdom's Public Investment Fund (PIF), is expected to add $20 billion to non-oil GDP growth and create more than 200,000 direct and indirect jobs, the SPA said in a report on Sunday.

It added that the new national carrier will "leverage Saudi Arabia's strategic geographic location between the three continents, enabling Riyadh to become a gateway to the world and a global destination for transportation, trade, and tourism".

As it was named, the new airline will operate from Riyadh as its hub, according to the SPA as quoted by Xinhua news agency report.