PIF investments help Saudi Arabia’s aviation sector soar

• Saudi Arabia is focused on cementing its position as a global aviation hub
• “It’s all about providing the right value and the right technology,” says Head of Aviation and Security Sector, MENA Investments Division, PIF 
• As a driver of Vision 2030, PIF is shaping the future of aviation in Saudi Arabia and the region

Saudi Arabia is firmly cementing its position as a global aviation and logistics hub, with a focus on becoming a world leader in tourism and connectivity. 

In line with Vision 2030, Saudi Arabia’s economic transformation blueprint, the country aims to connect 330 million air passengers to 250 destinations around the world by the end of the decade.

PIF has already made significant investments in the aviation sector, supporting the nation’s exciting plans to stimulate transport, trade and tourism, and act as a bridge linking the East with the West. 

These include plans for King Salman International Airport in Riyadh, which is set to become one of the world’s largest airports. Other initiatives include the launch of flag carrier Riyadh Air; Aircraft Leasing Company (AviLease), which aims to be a leading institution across the aviation leasing value chain; The Helicopter Company, which was created to enhance local connectivity; and investment in Saudia Technic to advance the maintenance, repair and overhaul (MRO) of aircraft in Saudi Arabia.

“We are very excited to develop this ecosystem – it includes general aviation, commercial airlines and aviation services,” said Muhammad Ovais Yousuf, Head of Aviation and Security Sector, MENA Investments Division, PIF. 

Yousuf cites MRO as an extremely important segment of the aviation sector, as it will support the development of an approximately 1 million-square-meter MRO village in Jeddah, including a state-of-the-art jet propulsion center that will transform Saudia Technic into the leading MRO in the Middle East. Meanwhile, AviLease is already a global leader within 15 months of its launch, he reveals.

“It’s all about providing the right value and the right technology.” 

Reflecting its role in driving Vision 2030, PIF is shaping the future of aviation in Saudi Arabia and the region.

“Our strategy is fully aligned with meeting – and hopefully exceeding – Vision 2030 targets.”