Latest news with #KUNHolding
L'Orient-Le Jour
a day ago
- Business
- L'Orient-Le Jour
New budget airline to boost Saudi Arabia's aviation sector
Saudi Arabia has just announced the launch of a new low-cost airline by 2030, the result of a consortium between UAE budget carrier Air Arabia, Saudi group Nesma and investor KUN Holding. This new budget carrier, whose name has not yet been announced, will be headquartered at King Fahd International Airport (KFIA) in Dammam, in the eastern province of the to the Saudi General Authority of Civil Aviation (GACA), which awarded the project to the consortium, the airline plans to target 24 domestic and 57 international destinations, with a planned fleet of 45 aircraft to carry up to 10 million passengers annually by 2030. Other Vision 2030 updates Is the Saudi megaproject 'The Line' about to face cuts? The license granted to Air Arabia also marks the end of hopes for Jazeera Airways, the Kuwaiti low-cost carrier,...
Skift
3 days ago
- Business
- Skift
Saudi Arabia Approves Major New Airline Based in Dammam
Another new airline is coming to Saudi, but this time it's a low-cost option. Based out of the eastern city of Dammam and led by Air Arabia, it will enter an increasingly crowded market. A new low-cost airline is coming to Saudi Arabia. The country's General Authority of Civil Aviation (GACA) has awarded an operating license to a consortium led by Air Arabia, Nesma Group, and KUN Holding. The joint venture, announced in a series of posts on GACA's X account, and operate a low-cost carrier based at King Fahd International Airport in Dammam. The project is aimed at boosting domestic and international connectivity from the country's Eastern Province. The airline is targeting 24 domestic and 57 international routes by the end of the decade. Its goal is to serve 10 million passengers annually by 2030, using a fleet of 45 aircraft. The airline's precise launch dates and routes were not announced. Saudi Transport Minister Saleh bin Nasser Al-Jasser said the carrier will help drive competition and improve consumer choice. More than 2,400 "direct jobs in the aviation sector" are also expected. The laun
Arabian Business
3 days ago
- Business
- Arabian Business
New Saudi low-cost airline to launch from King Fahd International Airport
A consortium comprising Air Arabia, Nesma Group, and KUN Holding has won the General Authority of Civil Aviation's (GACA) competition to establish and operate a low-cost airline in Saudi Arabia. The carrier will be based at King Fahd International Airport in Dammam, and will enhance domestic and international air connectivity for the Eastern Province, the Emirates News Agency (WAM) said in a statement. The win represents the culmination of a vision and partnership among the three parties, focused on delivering an operating model that supports aviation programme goals, improves service quality for travellers, and contributes to driving economic growth. New Saudi airline plans 81 destinations with 45 aircraft by 2030 The low-cost carrier targets operating 24 domestic and 57 international destinations with 45 aircraft by 2030. The airline aims to serve around 10 million passengers annually from Dammam and the Eastern Province. Adel Al Ali, Group Chief Executive Officer of Air Arabia, said: 'We are proud to have been selected by the General Authority of Civil Aviation (GACA) to launch a new national low-cost airline headquartered in Dammam. We extend our sincere gratitude to the authority for its trust in us. 'As a leading low-cost airline operator in the region, this achievement represents a key milestone that reaffirms our commitment to supporting the growth and development of the kingdom's aviation sector. Through our proven economic model and regional expertise, this new partnership will deliver a reliable and value-driven travel experience for passengers and will contribute to economic growth and job creation in the Eastern Province and beyond.' Faisal Bin Saleh Al-Turki, President of Nesma Group, and Mohamed Bin Nabil Hefni, CEO of KUN Holding, added: 'At Nesma and KUN, we are proud to be part of this ambitious national initiative, which is the result of a strategic partnership with Air Arabia Group. This initiative aligns with the impressive developments in the Kingdom's tourism and aviation sectors. Launching a new low-cost carrier from Dammam is not merely an air transport project, but a direct contribution to strengthening the tourism infrastructure and stimulating the local economy of the Eastern Province. This includes creating high-quality jobs, empowering national talent, and supporting aviation-related commercial activities. 'We believe this project reflects the private sector's role in supporting the goals of Saudi Vision 2030 and embodies the spirit of partnership between the public and private sectors to achieve transformative strides in sustainable development. We look forward to this carrier becoming a model of local and international collaboration, strengthening the Kingdom's position as a leading regional and global tourism destination.' The project is projected to create over 2,400 direct jobs in the aviation sector and will contribute to tourism growth and economic development in the region.
Emirates 24/7
3 days ago
- Business
- Emirates 24/7
Air Arabia, Nesma Group, KUN Holding consortium win bid to establish new low-cost carrier
A consortium comprising Air Arabia, Nesma Group, and KUN Holding announced that it has won the General Authority of Civil Aviation's (GACA) competition to establish and operate a new national low-cost airline, which will be based at King Fahd International Airport in Dammam. The airline aims to enhance domestic and international air connectivity for the Eastern Province. This win marks the culmination of a shared vision and strategic partnership among the three parties, focused on delivering an efficient operating model that supports the objectives of the Aviation program goals, improves service quality for travelers, and contributes to driving national economic growth. Adel Al Ali, Group Chief Executive Officer of Air Arabia, stated, 'We are proud to have been selected by the General Authority of Civil Aviation (GACA) to launch a new national low-cost airline headquartered in Dammam. We extend our sincere gratitude to the Authority for its trust in us. As a leading low-cost airline operator in the region, this achievement represents a key milestone that reaffirms our commitment to supporting the growth and development of the Kingdom's aviation sector. Through our proven economic model and regional expertise, this new partnership will deliver a reliable and value-driven travel experience for passengers and will contribute to economic growth and job creation in the Eastern Province and beyond.' Faisal Bin Saleh Al-Turki, President of Nesma Group, and Mohamed Bin Nabil Hefni, CEO of KUN Holding, added, 'At Nesma and KUN, we are proud to be part of this ambitious national initiative, which is the result of a strategic partnership with Air Arabia Group. This initiative aligns with the impressive developments in the Kingdom's tourism and aviation sectors. Launching a new low-cost carrier from Dammam is not merely an air transport project, but a direct contribution to strengthening the tourism infrastructure and stimulating the local economy of the Eastern Province. This includes creating high-quality jobs, empowering national talent, and supporting aviation-related commercial activities. We believe this project reflects the private sector's role in supporting the goals of Saudi Vision 2030 and embodies the spirit of partnership between the public and private sectors to achieve transformative strides in sustainable development. We look forward to this carrier becoming a model of local and international collaboration, strengthening the Kingdom's position as a leading regional and global tourism destination.' The new national low-cost carrier is targeting to operate 24 domestic and 57 international destinations with 45 aircraft by 2030, aiming to serve around 10 million passengers annually from Dammam and the Eastern Province. The project is projected to create over 2,400 direct jobs in the aviation sector and significantly contribute to tourism growth and local economic development in the region.
Gulf Business
4 days ago
- Business
- Gulf Business
Air Arabia-led consortium wins bid to launch new low-cost airline in Saudi Arabia
Image courtesy: WAM A consortium comprising Air Arabia, Nesma Group, and KUN Holding has won a bid from Saudi Arabia's General Authority of Civil Aviation (GACA) to establish and operate a new national low-cost airline headquartered in Dammam. The carrier will be based at King Fahd International Airport and is intended to boost both domestic and international connectivity for the Eastern Province. The win marks the result of a strategic partnership among the three firms, aimed at supporting the kingdom's aviation goals and economic development objectives. 'We are proud to have been selected by GACA to launch a new national low-cost airline headquartered in Dammam,' said Adel Al Ali, group CEO of Air Arabia. 'This achievement represents a key milestone that reaffirms our commitment to supporting the growth and development of the kingdom's aviation sector.' New airline inspired by Air Arabia's model The airline, which draws on Air Arabia's regional low-cost operating model, aims to deliver reliable and value-driven travel for passengers while creating economic opportunities in the region. According to Al Ali, the project will contribute to job creation and the broader economic development of the Eastern Province. ✈️ Big News! We're proud to announce that Air Arabia has been awarded to establish a new low-cost airline based in Dammam by Saudi Arabia's We thank — Air Arabia (@airarabiagroup) Faisal Bin Saleh Al-Turki, president of Nesma Group, and Mohamed Bin Nabil Hefni, CEO of KUN Holding, called the initiative a direct contribution to strengthening Saudi Arabia's tourism infrastructure and local economy. 'Launching a new low-cost carrier from Dammam is not merely an air transport project,' they said in a joint statement, 'but a contribution to creating high-quality jobs, empowering national talent, and supporting aviation-related commercial activity. We believe this project reflects the private sector's role in supporting the goals of Saudi Vision 2030.' By 2030, the airline plans to operate 45 aircraft, covering 24 domestic and 57 international destinations, and serve around 10 million passengers annually. The project is expected to generate over 2,400 direct jobs in the aviation sector and contribute significantly to tourism and economic growth in the Eastern Province. Read:
