Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is exploring the establishment of a new cargo airline to position the kingdom as a major global logistics hub competing with the likes of Dubai International and Doha Hamad International, Bloomberg reported citing unnamed sources familiar with the matter.

The planned cargo operation would support Saudia (SV, Jeddah International) and start-up Riyadh Air (RXI, Riyadh) and the PIF is in exploratory talks with manufacturers and lessors to…

Source: ch aviation
Read more: Saudi Arabia mulling new cargo airline – report