Sunday 23 June 2024

Future Aviation Forum 2024

Deals worth $20 billion signed at Future Aviation Forum

RIYADH, May 22, 2024

The second day of the Future Aviation Forum 2024 (May 20-22) held in Riyadh, saw the signing of 102 memoranda of understanding (MoUs), agreements, and deals that topped more than SR75 billion ($20 billion), a report said.

Held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and organised by the General Authority of Civil Aviation (GACA), the agreements encompassed various sectors of civil aviation, such as aviation services, aircraft purchase orders, cargo and logistics services, advanced air mobility, human resources development, information technology, maintenance, repair, and overhaul, Saudi Press Agency said.

The forum continued its proceedings for the second consecutive day with the participation of over 30 ministers, 77 leaders of civil aviation authorities, CEOs of airlines worldwide, and 7,000 aviation industry experts and leaders from more than 120 countries.

It focused on human capabilities, the future of the sector, collaboration opportunities, civil aviation organization networks, sustainability, innovation, technology, and business opportunities within the sector.

The forum saw the GACA launching the first edition of the kingdom's aviation sector report, which highlighted the civil aviation sector's contribution to the kingdom's economy, amounting to $53 billion and providing 958,000 jobs across various regions.

The GACA also hosted the first aviation investment exhibition aimed at facilitating investment in the Saudi aviation sector, with a focus on the advanced air mobility pavilion being among the exhibition's prominent pavilions.

“The Future Aviation Forum has achieved remarkable success by bringing together aviation industry leaders and experts from around the world to discuss the future of civil aviation and develop innovative solutions to its key challenges,” said Minister of Transport and Logistic Services and Chairman of GACA Board of Directors, Saleh bin Nasser Al-Jasser. – TradeArabia News Service




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