Saudi-backed airline to test Syria’s aviation recovery
The new airline is already set to face leasing, financing and market obstacles.
A planned Saudi-backed private airline for Syria could play a key role in rebuilding the country’s aviation capacity, but industry analysts say the carrier is likely to face significant operational, financing and fleet-acquisition challenges as it launches in a market still recovering from years of sanctions and civil war.
The head of the Syrian Investment Authority, Talal al-Hilali, told Reuters on Tuesday that Saudi Arabia is set to announce a multimillion-dollar investment package in Syria on Saturday, including the establishment of an airline.
The investments would include “telecommunications and real estate, especially in the old towns,” Hilali said on the sidelines of the World Government Summit in Dubai.
Two Syrian government sources told the news wire that the airline is expected to launch with more than a dozen aircraft, and additional aviation investments include contracts to develop Aleppo Airport.
