On July 6, The Kingdom of Saudi Arabia and the International Air Transport Association (IATA) concluded an agreement to setup the regional headquarters. As per Saudi press Agency, The president of GACA and the vice president of IATA signed an agreement to open a regional office in Riyad.
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Saudi Arabia launched a transportation and logistics push last week, intending to become the world’s fifth-largest air transit hub.
The International Air Transport Association (IATA), which represents 290 airlines worldwide, maintains a regional office in Jordan’s capital, Amman.
IATA denies to setup regional HQ
IATA announced it has decided to open an office in Saudi Arabia but not a regional headquarters.
As per Reuters, A request for further information from GACA was not promptly reported. Starting in 2024, the Saudi government will cease awarding contracts to companies those who don’t have regional headquarters in the country.
Saudi Arabia intends to use its new national airlines to seek international transit passenger traffic, compete with Gulfs’ Emirates and Qatar Airways, and open up a new front in the region’s rivalry.
The new airline would expand international routes and complement current Gulf carriers by transporting passengers from one country to another through connections inside the kingdom. The details of new carriers has not been disclosed.