RIYADH: Saudi Arabia announced Sunday the creation of a new national airline, part of a plan to turn Riyadh into a global aviation hub rivalling regional leaders like Dubai and Doha.
The Wall Street Journal reported on Saturday that the Public Investment Fund, the sovereign wealth fund that will own the airline, was"close to a deal" with Boeing for an aircraft order"valued at $35 billion". Officials have in recent years tried to position Riyadh, in central Saudi Arabia, as a rival to business hub Dubai.
Source: Holiday News (holidaynews.net)
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