KSA’s Future Aviation Forum bags some 102 agreements worth SAR 75 bn

Companies and international institutions signed 102 agreements worth a combined SAR 75 bn at Saudi Arabia’s 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 marketafter 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- 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.

IN OTHER FORUM NEWS-

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.

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.

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.

Bahrain’s Gulf Air is looking to renew its fleets as it eyes expanding and boosting its network, Gulf Air Group Holding chief executive Jeffrey Goh told the National. Although the carrier is planning to induct Airbus and Boeing aircraft over the next three years, its fleet expansion plans are mindful of backlogs faced by planemakers, Goh said, adding that a decision on a fleet overhaul could be reached by 2H 2024 and may involve a mix of plane orders and leases.

Boosted network: Gulf Air is mulling new flights to Zurich, Tokyo, and Spain, as well as more frequent flights to Madinah, Najaf, and Jeddah, the National said.