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Companies and international institutions signed 102 agreements worth a combined SAR 75 bn at the Future Aviation Forum during the first two days of the industry event, Mubasher reports, without providing a breakdown of the specific agreements. Here’s what we know:
#1- The General Authority for Civil Aviation (Gaca) signed air service agreements yesterday with Kiribati, Grenada, Malawi, Romania, Belize, Sao Tome and Principe, Lithuania, El Salvador, and Albania, according to Mubasher. Gaca had signed similar agreements with Mozambique, Eswatini, Cambodia, Brunei, and Dar es Salaam on Monday.
#2- US-based electric aircraft maker Joby Aviation plans to expand into the Saudi market after it signed a MoU with Aramco aviation subsidiary Mukamalah, according to a statement. Mukamalah, which operates the world’s largest fleet of corporate aircraft, will introduce Joby’s eVTOL to the Saudi market,
About Joby: Operating since 2009, Joby works to provide electric air taxis for commercial use. Its aircraft is designed to carry up to 5 passengers, including the pilot, and can move at speeds of up to 321 km/h.
#3- Al Hokair + Tibah Airports: Tadawul-listed Al Hokair Tourism and Development Group signed an MoU with Tibah Airports Company which could see Al Hokair provide catering, entertainment, F&B services at Tibah’s Prince Mohammed International Airport in Madinah, it said in a disclosure to Tadawul. Neither side put a value on the contract.
#4- Saudia + Riyadh Air: Saudi’s two national airlines will work together on pilot, crew, and other aviation employee training, after PIF-owned Riyadh Air signed an MoU with the Saudia Group-affiliated Saudi Academy, state-run SPA reports.
BACKGROUND- The PIF has been reportedly in talks to acquire Saudia, Saudi’s national flag carrier, as a prelude to combining the business with Riyadh Air. Saudia will bid adieu to Riyadh by 2030 to make way for Riyadh Air and will instead base itself out of Jeddah’s King Abdulaziz International Airport.
ALSO FROM THE FORUM-
#5- Industry and Minerals Minister Bandar Alkhorayef had one-on-one meetings with officials from some of the biggest names in aviation, including a sit-down with Boeing CEO David Calhoun, as well as the heads of China’s Comac and Empire Airlines to discuss avenues of cooperation in aircraft manufacturing, the ministry said on X.
#6- Gaca plans to add two new private logistics zones at airports in the Kingdom, the authority’s vice-president for economic policies and logistics, Awad Al Sulami, told Argaam on the sidelines of the forum. The authority will announce the new zones “in the coming period,” Al Sulami said, without providing further details. The new zones would be added to the Kingdom’s current roster of special logistics zones, including the Special Integrated Logistics Zone at King Khalid International Airport in Riyadh, according to Al Sulami.
#7- A strong aviation sector is crucial to grow the country’s tourism industry, Gaca Executive Vice President for Strategy and Business Intelligence Mohammed Al Khuraisi said at the forum. “To have successful tourism, you need to have a robust aviation sector. And by that we mean airport capacity, more fleet, more connectivity, better services, etc,” he said.
#8- PIF-owned commercial chopper operator The Helicopter Company is looking to grow its footprint in Saudi and in global markets, with plans to eventually IPO, the company’s CEO, Arnaud Martinez, told Arab News on the sidelines of the forum. “Once you secure the market, it’s a healthy move to go and see what’s going on in other countries, other continents, and other bids. That’s what PIF does; we invest, we create something that the Kingdom needs, we grow the business, then you go on, you grow, you go over the borders, and then you go on an IPO journey,” he said.
