Saudi Arabian Airlines has signed memoranda of understanding with both China Eastern Airlines and Air China, taking a crucial step towards entering the important market of China. The airline's goal is to prioritize flights to China as part of its international network.
During the Annual Meeting of the International Air Transport Association (IATA) on June 6th, the newly established Saudi national airline, Flyadeal, signed Memorandums of Understanding with China Eastern Airlines and Air China, taking an important step towards entering the crucial Chinese market in the future.
The 80th IATA Annual Meeting and the 2024 World Air Transport Summit were held from June 2nd to 4th in Dubai, United Arab Emirates, with more than 1,500 industry leaders and government officials attending the conference.
According to the Memorandums of Understanding, all parties who sign the agreements will explore cooperation potential in areas such as intermodal cooperation and code sharing, continuously consolidating the positions of their respective major hubs, jointly implementing the Belt and Road Initiative and Saudi Arabia's 2030 Vision, and promoting economic and cultural ties between the two countries.
Flyadeal aims to prioritize flights to China as part of its international network to make up for the lack of existing flights from China Eastern Airlines and Air China to Riyadh.
Flyadeal is the airline under the Saudi Public Investment Fund (PIF). Established in March 2023, it aims to provide a comprehensive range of digitally-led services and is one of the key pillars in Saudi Arabia's goal to attract 330 million tourists by 2030.
On April 27th, China Eastern Airlines opened its first direct flight from Shanghai to Riyadh, and on May 6th, Air China opened its first direct flight from Beijing to Riyadh.
According to China Eastern Airlines, since the opening of the route (April 27th - May 27th), it has operated 13 round-trip flights (26 one-way flights), transporting a total of 9,046 passengers, with an average seat occupancy rate of 76% and a maximum seat occupancy rate of 88%.
The strategic partnership between the Saudi and Chinese airlines has strengthened the growing economic and cultural ties between China and Saudi Arabia, promoted mutual connectivity and digital development, and provided new travel options for Chinese customers.
Wang Zhiquing, Chairman of China Eastern Airlines, said at the signing ceremony that the cooperation will ease passenger transportation between China and the Middle East, Europe, Africa, South America and other regions, and promote new development and growth for both sides.