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Future Aviation Forum 2024 likely to showcase $100bn opportunities in Saudi aviation sector

Future Aviation Forum 2024 likely to showcase $100bn opportunities in Saudi aviation sector
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Riyadh – Mubasher: The Future Aviation Forum 2024 is expected to showcase the $100 billion investment programme of opportunities available in the Saudi aviation sector that will accelerate the development of aviation globally.

The three-day event, which kicked off at King Abdulaziz International Conference Center on 20 May 2024, is forecast to witness the signing of more than 70 agreements and deals at a value surpassing $12 billion, according to a press release.

Held under the theme ‘Elevating Global Connectivity,’ the forum is bringing together over 120 speakers and hosting more than 5,000 of leading figures in global civil aviation from 120 countries, such as ministers from over 30 countries, leaders of 65 civil aviation authorities, airline chiefs, airport bosses, and executives from aircraft manufacturers, besides the world’s largest investors.

The Kingdom is also hosting other sector events such as the Seventh Meeting of the Director General of Civil Aviation Middle East Region, the Middle East and North Africa Air Regional Safety and Oversight Organization (RSOO), and the Saudi Airports Awards. This is in addition to Airport Council International’s annual general assembly, the first Security Forum Arab Civil Aviation Organization, and more.

Meanwhile, the inaugural State of Aviation report published by the General Authority of Civil Aviation (GACA) on the eve of Future Aviation Forum 2024 indicated significant progress against the Saudi Aviation Strategy’s goals as the sector emerged as a powerhouse for the Kingdom’s economy, contributing $53 billion to output in 2023 and 10% of Saudi Arabia’s non-oil gross value add.”

During the event, the speakers are sharing their expert insights in plenary and panel discussions across salient and pressing issues like growth and investment, airports and connectivity, supply chain management and resilience, cargo and logistics, mobility and the future of flight, as well as technology, digitalisation and safety, human capital, and sustainability.

In an Interview with Mubasher, the Chief Commercial Officer at Riyadh Air, Vincent Coste, stated that the airline company aims to open destinations basically on a monthly basis, to reach up to 100 locations by 2030.