Saudi Arabian media reported that Uruguay submitted a proposal to the General Authority of Civil Aviation (GACA) for the development of a regional airline, in collaboration with the kingdom’s national carriers.
The proposal includes the formation of a new airline called “Saudi Uruguay Airlines”, which would join the portfolio of Saudi Airlines.
According to Al-Arabiya Business, Uruguay’s detailed offer includes information about the legal structure of the company, its operational plan, central hub, and fleet.
Uruguay’s request also highlighted the planned routes for the new airline, its financial plan, and future projects. The Uruguayan side proposed a 40/60 ownership split, favoring the kingdom’s national carriers.
It is important to mention that, in March 2023, Saudi Arabia announced the establishment of the Public Investment Fund (PIF) for “Riyadh Airlines”, the new Saudi airline, aimed at contributing to the development of the aviation sector and strengthening the kingdom’s strategic position, which serves as a connection point among three of the world’s major continents: Asia, Africa, and Europe.
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