The Kingdom of Saudi Arabia has unveiled a new international airline called Riyadh Air.
The country aims to compete with a handful of other Middle Eastern carriers that have used their geography to build world-class airlines and attract business travelers and tourists from across the world.
Meanwhile, Saudi Arabia’s sovereign-wealth fund, the Public Investment Fund, is close to committing to a big order of Boeing Co. jets to underpin the new airline.
The deal is expected to be announced this week, and could be a boom for the aircraft maker.
