Saudi Arabia plans new national airline as it diversifies from oil

FILE PHOTO: Passengers talk to airline employees at Riyadh International Airport, after Saudi Arabia reopened domestic flights, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia May 31, 2020. REUTERS/Ahmed Yosri/File Photo

CAIRO (Reuters) - Saudi Arabia's Crown Prince Mohammed bin Salman announced plans on Tuesday to launch a second national airline as part of a broader strategy to turn the kingdom into a global logistics hub as it seeks to diversify from oil.

The creation of another flag carrier would catapult Saudi Arabia into the 5th rank globally in terms of air transit traffic, official state media reported, without giving details on when and how the airline would be created.